Saga Declares 4-for-3 Stock Split
Saga Communications announced that its Board of Directors has declared a 4-for-3 stock split on its Class A and Class B Common Shares. The new shares will be distributed on January 16 to shareholders of record as of the close of business on December 28, 2012.
As a result of the stock split, each shareholder of Class A Common Stock will receive one additional share of Class A Common Stock for every three shares of Class A Common Stock owned, and each shareholder of Class B Common Stock will receive one additional share of Class B Common Stock for every three shares of Class B Common Stock owned. Fractional shares will be paid for in cash.