Saga Communications, Inc. Declares Quarterly Dividend of $0.25 (NASDAQ:SGA)

Saga Communications, Inc. (NASDAQ:SGA) declared a quarterly dividend on Thursday, September 10th. Shareholders of record on Wednesday, September 23rd will be paid a dividend of 0.25 per share on Friday, October 16th. This represents a c) annualized dividend and a 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 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 Performance

Shares of SGA opened at $8.90 on Friday. The firm has a market cap of $56.60 million, a PE ratio of -6.45 and a beta of -0.11. Saga Communications has a 52-week low of $8.24 and a 52-week high of $13.19. The business’s 50 day moving average price is $9.12 and its two-hundred day moving average price is $10.08.

Saga Communications (NASDAQ:SGA) last announced its quarterly earnings data on Thursday, August 13th. The company reported $0.15 EPS for the quarter, topping the consensus estimate of ($0.18) by $0.33. Saga Communications had a negative net margin of 8.55% and a positive return on equity of 3.87%. The company had revenue of $26.40 million during the quarter, compared to the consensus estimate of $25.50 million.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (d)” rating on shares of Saga Communications in a report on Monday, August 17th. Two equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Reduce”.

Saga Communications Company Profile

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.