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

Saga Communications, Inc. (NASDAQ:SGA) announced a quarterly dividend on Wednesday, February 5th,RTT News reports. Shareholders of record on Tuesday, February 18th will be paid a dividend of 0.25 per share on Friday, March 7th. This represents a $1.00 annualized dividend and a dividend yield of 7.93%. The ex-dividend date is Tuesday, February 18th.

Saga Communications has raised its dividend payment by an average of 27.7% per year over the last three years.

Saga Communications Stock Performance

Shares of SGA opened at $12.61 on Friday. The firm has a market cap of $78.94 million, a PE ratio of 17.51 and a beta of 0.27. The stock’s fifty day moving average price is $12.01 and its two-hundred day moving average price is $13.41. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.64 and a quick ratio of 2.64. Saga Communications has a 1 year low of $10.75 and a 1 year high of $24.70.

Insider Buying and Selling at Saga Communications

In related news, major shareholder Gate City Capital Management, acquired 240,609 shares of the company’s stock in a transaction that occurred on Tuesday, December 31st. The shares were acquired at an average price of $11.25 per share, with a total value of $2,706,851.25. Following the acquisition, the insider now owns 863,845 shares of the company’s stock, valued at approximately $9,718,256.25. This trade represents a 38.61 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Edward K. Christian Trust sold 5,651 shares of the stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $12.72, for a total value of $71,880.72. Following the sale, the insider now directly owns 945,000 shares in the company, valued at $12,020,400. This trade represents a 0.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 10,943 shares of company stock worth $137,790 over the last ninety days. 21.90% of the stock is currently owned by company insiders.

About Saga Communications

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.