Saga Increases Dividend

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On Tuesday Saga Communications announced that its Board of Directors declared an increased quarterly cash dividend of $0.25 per share and a special cash dividend of $2.00 per share.

The dividend will be paid on October 21st to shareholders of record on October 3rd. The aggregate amount of the payment to be made in connection with the quarterly and special dividends will be approximately $13.6 million.

The quarterly and special cash dividends will be funded by cash on the Company’s balance sheet. Including this dividend, the Company will have paid over $93.0 million in dividends to shareholders since the first special dividend was paid in 2012.

Interim CEO Warren Lada said, “We are very pleased that our strong capital position and operating performance allowed us to declare an increased regular quarterly cash dividend and a special cash dividend, reflecting our continuing commitment to provide a meaningful cash return to our shareholders. Our sustained financial strength has put us in a position to meet operational goals and to support an ongoing cash dividend program. The cash dividends announced today express the confidence of our Board of Directors and executive management team in Saga’s future.”

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