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

Saga Communications, Inc. (NASDAQ:SGA) declared a quarterly dividend on Thursday, November 13th. Investors 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 of this dividend 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 payout ratio of 135.1% indicating that 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 Trading Down 1.5%

SGA stock traded down $0.19 during mid-day trading on Friday, reaching $12.00. 199 shares of the stock traded hands, compared to its average volume of 9,850. The stock’s fifty day moving average is $12.36 and its 200-day moving average is $12.50. The company has a market cap of $77.25 million, a P/E ratio of 36.35 and a beta of 0.26. The company has a current ratio of 2.76, a quick ratio of 2.76 and a debt-to-equity ratio of 0.03. Saga Communications has a 52-week low of $10.75 and a 52-week high of $14.27.

Saga Communications (NASDAQ:SGA) last posted its quarterly earnings data on Thursday, November 6th. The company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.29). The firm had revenue of $28.17 million for 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%. As a group, sell-side analysts expect that Saga Communications will post 0.23 earnings per share for the current year.

Institutional Investors Weigh In On Saga Communications

A number of large investors have recently added to or reduced their stakes in the stock. Osaic Holdings Inc. boosted its holdings in shares of Saga Communications by 256.7% during the 2nd quarter. Osaic Holdings Inc. now owns 3,984 shares of the company’s stock worth $52,000 after buying an additional 2,867 shares during the period. Empowered Funds LLC boosted its holdings in Saga Communications by 6.2% during the first quarter. Empowered Funds LLC now owns 30,406 shares of the company’s stock valued at $379,000 after acquiring an additional 1,769 shares during the period. Mork Capital Management LLC increased its stake in shares of Saga Communications by 100.0% in the first quarter. Mork Capital Management LLC now owns 50,000 shares of the company’s stock worth $624,000 after purchasing an additional 25,000 shares during the period. Finally, Nuveen LLC acquired a new position in shares of Saga Communications during the 1st quarter worth about $529,000. Institutional investors own 74.28% of the company’s stock.

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.