Saga Communications, Declares Special Cash Dividend Of $2.00 Per Share
Portfolio Pulse from Benzinga Newsdesk
Saga Communications has declared a special cash dividend of $2.00 per share, payable on January 12, 2024, to shareholders of record as of December 20, 2023. The total payment for this dividend will amount to approximately $12.5 million.

December 07, 2023 | 9:57 pm
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Saga Communications has announced a special cash dividend of $2.00 per share, with a total distribution of approximately $12.5 million.
The declaration of a special dividend typically indicates a company's strong cash position and commitment to returning value to shareholders. This can be seen as a positive signal to investors and may lead to a short-term increase in stock price as investors may buy in to qualify for the dividend. However, the impact may be moderated by the fact that dividends are also a distribution of company's cash reserves.
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