Saga Communications, Inc. (NASDAQ:SGA – Get Free Report) announced a quarterly dividend on Thursday, September 10th. Stockholders of record on Wednesday, September 23rd will be paid a dividend of 0.25 per share on Friday, October 16th. This represents a c) dividend on an annualized basis and a dividend yield of 11.2%. The ex-dividend date of this dividend is Wednesday, September 23rd.
Saga Communications has increased its dividend payment by an average of 0.3%annually over the last three years. Saga Communications has a dividend payout ratio of 135.1% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments.
Saga Communications Stock Up 2.2%
Saga Communications stock opened at $8.90 on Friday. The company has a market capitalization of $56.60 million, a P/E ratio of -6.45 and a beta of -0.11. The stock’s 50 day moving average is $9.12 and its 200 day moving average is $10.08. Saga Communications has a twelve month low of $8.24 and a twelve month high of $13.19.
About Saga Communications
Saga Communications, Inc (NASDAQ: SGA) is an independent radio broadcasting company that owns and operates a portfolio of local radio stations across the United States. Headquartered in Grosse Pointe Farms, Michigan, the company focuses on full?service radio properties offering a variety of formats, including music, news?talk and sports programming. In addition to traditional over?the?air broadcasts, Saga leverages web streaming and mobile platforms to broaden listener reach and provide advertisers with multimedia opportunities.
Founded in 1985 by Edward J.
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