Saga Suspends Cash Dividends

Saga Communications, Inc. has announced that its Board of Directors is temporarily suspending the quarterly cash dividend in response to the continued economic uncertainty of the impact of COVID-19. Additional actions being taken to conserve the Company's cash position include reducing planned capital spending and seeking discounts from vendors.

By preserving the Company's cash position, the Company believes market conditions may present attractive acquisition opportunities.

The Company will consider the resumption of quarterly cash dividends in the near future as economic conditions permit.

Saga is a broadcasting company whose business is devoted to acquiring, developing and operating broadcast properties. Saga owns or operates broadcast properties in 27 markets, including 79 FM, 34 AM radio stations and 77 metro signals.