Saga Communications’ Board of Directors has given the green light to a quarterly cash dividend of $0.30 per share for its Class A and Class B shares.
The dividend will be paid on September 30, 2016 to shareholders of record on September 14, 2016.
Investors will also be pleased to know that Saga intends to pay regular quarterly cash dividends in the future.
“Consistent with returning value to our shareholders, the Board of Directors will also consider declaring special cash dividends as well as consider stock dividends,” the company said.
Saga owns or operates broadcast properties in 26 markets, including 67 FM and 32 AM radio stations, 4 television stations and 5 low-power television stations.
At the closing bell on August 31, SGA shares dipped 2%, to $40.67.