Saga Communications, Inc. (NASDAQ:SGA – Get Free Report) announced a quarterly dividend on Wednesday, May 22nd, Zacks reports. Stockholders of record on Monday, June 3rd will be paid a dividend of 0.25 per share on Friday, June 28th. This represents a $1.00 annualized dividend and a dividend yield of 5.16%. The ex-dividend date of this dividend is Monday, June 3rd.
Saga Communications has increased its dividend by an average of 46.2% annually over the last three years and has increased its dividend every year for the last 2 years. Saga Communications has a dividend payout ratio of 58.1% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Saga Communications to earn $1.72 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 58.1%.
Saga Communications Stock Up 0.5 %
Shares of NASDAQ:SGA opened at $19.39 on Friday. The firm has a 50 day moving average of $22.02 and a 200 day moving average of $22.37. The company has a market capitalization of $121.44 million, a price-to-earnings ratio of 17.31 and a beta of 0.40. Saga Communications has a 52 week low of $18.89 and a 52 week high of $27.00.
Wall Street Analysts Forecast Growth
Separately, StockNews.com lowered shares of Saga Communications from a “buy” rating to a “hold” rating in a research report on Friday, January 26th.
Check Out Our Latest Report on Saga Communications
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.
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