Saga Communications (SGA) Declares $0.25 Dividend
Saga Communications said on May 9, 2023 that its board of directors declared a regular quarterly dividend of $0.25 per share ($1.00 annualized). Previously, the company paid $0.25 per share.
Shares must be purchased before the ex-div date of May 19, 2023 to qualify for the dividend. Shareholders of record as of May 22, 2023 will receive the payment on June 16, 2023.
At the current share price of $21.21 / share, the stock's dividend yield is 4.71%.
Looking back five years and taking a sample every week, the average dividend yield has been 5.76%, the lowest has been 2.39%, and the highest has been 23.28%. The standard deviation of yields is 4.51 (n=186).
The current dividend yield is 0.23 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 3.43. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 2.91%, demonstrating that it has increased its dividend over time.
Learn to Harvest Dividends
Buy Stock. Capture Dividend. Sell Stock. Repeat. This is the essence of dividend harvesting and you can do it easily with Fintel's Dividend Capture Calendar.
What is the Fund Sentiment?
There are 86 funds or institutions reporting positions in Saga Communications. This is an increase of 2 owner(s) or 2.38% in the last quarter. Average portfolio weight of all funds dedicated to SGA is 0.28%, a decrease of 14.09%. Total shares owned by institutions increased in the last three months by 2.48% to 4,039K shares.
What are Other Shareholders Doing?
Towerview holds 1,161K shares representing 18.96% ownership of the company. No change in the last quarter.
FLPSX - Fidelity Low-Priced Stock Fund holds 482K shares representing 7.87% ownership of the company. In it's prior filing, the firm reported owning 474K shares, representing an increase of 1.62%. The firm increased its portfolio allocation in SGA by 3.46% over the last quarter.
T. Rowe Price Investment Management holds 382K shares representing 6.25% ownership of the company. In it's prior filing, the firm reported owning 516K shares, representing a decrease of 34.94%. The firm decreased its portfolio allocation in SGA by 35.76% over the last quarter.
PRSVX - T. Rowe Price Small-Cap Value Fund holds 266K shares representing 4.34% ownership of the company. In it's prior filing, the firm reported owning 362K shares, representing a decrease of 36.21%. The firm decreased its portfolio allocation in SGA by 35.21% over the last quarter.
Minerva Advisors holds 205K shares representing 3.34% ownership of the company. In it's prior filing, the firm reported owning 209K shares, representing a decrease of 2.06%. The firm decreased its portfolio allocation in SGA by 99.93% over the last quarter.
Saga Communications Background Information
(This description is provided by the company.)
Saga Communications, Inc. is a broadcasting company whose business is devoted to acquiring, developing, and operating broadcast properties. The company owns or operates broadcast properties in 27 markets, including 79 FM, 35 AM radio stations and 79 metro signals.
This story originally appeared on Fintel.