Saga Communications, Inc. (SGA) to Issue Quarterly Dividend of $0.25 on December 13th

Saga Communications, Inc. (NASDAQ:SGA) announced a quarterly dividend on Friday, November 15th,Wall Street Journal reports. Shareholders of record on Monday, November 25th will be paid a dividend of 0.25 per share on Friday, December 13th. This represents a $1.00 annualized dividend and a yield of 7.58%. The ex-dividend date of this dividend is Monday, November 25th.

Saga Communications has increased its dividend payment by an average of 46.2% per year over the last three years. Saga Communications has a payout ratio of 208.3% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Saga Communications to earn $0.48 per share next year, which means the company may not be able to cover its $1.00 annual dividend with an expected future payout ratio of 208.3%.

Saga Communications Stock Performance

SGA stock opened at $13.19 on Friday. The stock’s 50 day simple moving average is $13.91 and its 200 day simple moving average is $15.48. Saga Communications has a 12-month low of $11.71 and a 12-month high of $27.00. The firm has a market cap of $82.57 million, a P/E ratio of 18.32 and a beta of 0.26. The company has a current ratio of 2.64, a quick ratio of 2.64 and a debt-to-equity ratio of 0.03.

Saga Communications Company Profile

Saga Communications, Inc, a media company, engages in acquiring, developing, and operating broadcast properties in the United States. The company's radio stations employ various programming formats, including classic hits, country, classic country, hot/soft/urban adult contemporary, oldies, classic rock, rock, and news/talk.