Saga Communications, Inc. (NASDAQ:SGA) to Issue $0.25 Quarterly Dividend

Saga Communications, Inc. (NASDAQ:SGA) announced a quarterly dividend on Thursday, November 13th. Shareholders of record on Monday, November 24th will be given a dividend of 0.25 per share on Friday, December 12th. This represents a c) dividend on an annualized basis and a dividend yield of 8.3%. The ex-dividend date is Monday, November 24th.

Saga Communications has raised its dividend by an average of 0.1%annually over the last three years. Saga Communications has a dividend 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. Research 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

Shares of NASDAQ SGA traded down $0.19 during midday trading on Friday, hitting $12.00. 471 shares of the company’s stock traded hands, compared to its average volume of 9,851. The firm has a fifty day moving average of $12.36 and a 200 day moving average of $12.50. Saga Communications has a 1 year low of $10.75 and a 1 year high of $14.27. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.76 and a current ratio of 2.76. The stock has a market capitalization of $77.25 million, a price-to-earnings ratio of 36.35 and a beta of 0.26.

Saga Communications (NASDAQ:SGA) last posted its quarterly earnings data on Thursday, November 6th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.29). The business had revenue of $28.17 million during the quarter, compared to analysts’ expectations of $28.30 million. Saga Communications had a return on equity of 1.27% and a net margin of 1.91%. On average, analysts forecast that Saga Communications will post 0.23 earnings per share for the current year.

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.