Saga Communications, Inc. (SGA) will start paying a quarterly dividend of $0.16 per share in 2021. Last year SGA suspended its quarterly dividend because of the COVID-19 pandemic. Earlier in 2020 the broadcasting company had raised its quarterly dividend by 6.7 percent to $0.32 per share.
The dividend will be paid on July 16, 2021, to shareholders of record on June 30, 2021. The aggregate amount of the payment to be made in connection with the quarterly dividend will be approximately $960 thousand. The quarterly cash dividend will be funded by cash on the Company's balance sheet. Including this dividend, the Company will have paid over $72 million in dividends to shareholders since the first special dividend was paid in 2012.
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 had been paying a dividend every year since 2014 before the suspension in 2020.