Saga Communications, Inc. (SGA) will raise its quarterly dividend by 6.7 percent to $0.32 per share in 2020. This is the first dividend hike by the company since 2016. SGA did pay several special dividends the last couple of years.

The next dividend will be paid on April 10, 2020 to shareholders of record on March 16, 2020. A new annual dividend rate of $1.28 per share yields 4.7% at a stock price of $27.

Saga Communications, Inc. is a broadcasting company whose business is devoted to acquiring, developing and operating broadcast properties. Saga owns or operates broadcast properties in 27 markets, including 79 FM, 34 AM radio stations and 77 metro signals. The company's segments are Radio, Television, and Corporate and Other. Saga Communications became a public company in 1992 and has paid a dividend every year since 2014.