Another sign things are returning to normal. Saga Communications has resumed paying a quarterly cash dividend to shareholders. The dividend was temporarily suspended last June when the pandemic hit the economy hard. Most radio companies lost between 50% and 70% of their revenue during that time.
The Saga Board of Directors declared a quarterly cash dividend of $0.16 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.
The Company currently intends to pay regular quarterly cash dividends in the future as declared by the Board of Directors.
