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GROSSE POINTE FARMS, Mich. - Saga Communications, Inc. (NASDAQ:SGA) announced Wednesday it has expanded its board of directors to eight members with the appointment of Gregg Sutherland, a former Ernst & Young senior partner.
Sutherland previously served as the Strategy Consulting Practice Leader for Global and Americas at Ernst & Young. He recently became Chair of G2M Insights’ Board of Advisors and previously served on the Board of Directors at Buckman Laboratories until its sale to Pritzker Private Capital earlier this year.
The new director holds an MBA from The Wharton School and has earned Board Director certification through the National Association of Corporate Directors.
This appointment follows the addition of Michael Scafidi to Saga’s board at the 2025 Annual Shareholder Meeting earlier this year. The company indicated it plans to return to a seven-member board at its 2026 Annual Shareholder Meeting.
"Gregg brings a unique blend of boardroom, financial and operations acumen to our board," said Chris Forgy, Saga’s President and CEO, in the press release.
Saga Communications owns or operates broadcast properties in 28 markets, including 82 FM and 31 AM radio stations and 79 metro signals. The company describes itself as focused on acquiring, developing, and operating broadcast properties while exploring complementary opportunities including digital initiatives. With annual revenue of $110 million and a strong liquidity position evidenced by a current ratio of 2.76, Saga maintains a healthy balance sheet. The company also offers shareholders an attractive 8% dividend yield, having maintained consistent dividend payments for 14 consecutive years. InvestingPro subscribers can access 6 additional key insights about SGA’s financial performance and valuation metrics in our comprehensive Pro Research Report.
In other recent news, Saga Communications reported its financial results for the second quarter of 2025, which showed a shortfall in both earnings and revenue compared to expectations. The company posted earnings per share of $0.18, which was below the anticipated $0.23. Revenue for the quarter came in at $28.23 million, missing the expected $29.5 million. Additionally, Saga Communications announced that its Board of Directors declared a quarterly cash dividend of $0.25 per share. The dividend will be paid on September 19, 2025, to shareholders of record as of August 26, 2025. This distribution will total approximately $1.6 million and will be funded from the company’s cash reserves. Despite the earnings and revenue miss, the company’s strategic direction appears to have maintained investor interest. The dividend announcement may also provide reassurance to shareholders about the company’s financial stability.
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