Company: SGA
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001558370-25-004153
Chunk: 24

Company: SAGA COMMUNICATIONS INC
Filing Date: 2025-03-31
Form: 10-K
Item: Item 5M
Chunk 24
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Item 5.    Market for Registrant’s Common Equity, Related Shareholder Matters and Issuer Purchases of Equity Securities

Our Class A Common Stock trades on the NASDAQ Global Market of the NASDAQ Stock Market LLC under the ticker symbol SGA. 

The closing price for our Class A Common Stock on March 25, 2025 as reported by the NASDAQ was $12.55. As of March 25, 2025, there were approximately 175 holders of record of our Class A Common Stock.  This figure does not include an estimate of the indeterminate number of beneficial holders whose shares may be held of record by brokerage firms and clearing agencies.

Dividends

During 2024, the Company’s Board of Directors has declared four quarterly cash dividends and a variable dividend on its Class A Common Stock.  These dividends, totaling $1.60 per share and approximately $10.0 million were paid during 2024.

During 2023, the Company’s Board of Directors declared four quarterly cash dividends and one special dividend on its Class A Common Stock.  These dividends, totaling $3.00 per share and approximately $18.6 million were accrued or paid during 2023.

In December 2022, the Board of Directors adopted a new variable dividend policy for the allocation of cash flows aligned with the Company’s goals of maintaining a strong balance sheet, increasing cash returns to shareholders, and continuing to grow the Company through strategic acquisitions.  

The Company currently intends to declare regular quarterly cash dividends as well as variable dividends in accordance with the terms of its variable dividend policy.  As previously reported, our Board adopted a variable dividend policy for the allocation of available cash aligned with the goals of maintaining a strong balance sheet, increasing cash