Saga Announces Cash Dividend For Shareholders

Saga Communications, Inc. ( SGA ) said Monday that its Board of Directors has authorized the initiation of a regular quarterly cash dividend of $0.20 per share for its Class A and Class B shares.

The dividend will be paid on July 25 to shareholders of record on July 11.

In addition, the Board of Directors expects to continue its practice of paying special cash dividends as circumstances permit.

The company also said its board also consider declaring stock dividends in the future.

Ed Christian, Chairman and Chief Executive Officer of Saga, said, "The initiation of our quarterly cash dividend is based on the Board of Directors and management's continuing confidence in the free cash flow that our radio and television stations generate as well as our commitment to return value to our shareholders."