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DETROIT—The Edward K. Christian Trust, a significant shareholder in Saga Communications Inc . (NASDAQ:SGA), recently sold 1,750 shares of the radio broadcasting company. The shares were sold at a weighted average price of $12.7458, amounting to a total transaction value of $22,305. According to InvestingPro analysis, the company currently trades below its Fair Value, with a notably low Price-to-Book ratio of 0.46.
Following this transaction, the trust now holds 943,250 shares of Saga Communications. The sales were executed in multiple transactions, with prices ranging between $12.69 and $12.93 per share. The trust, represented by Trustee Judith Christian, remains a significant stakeholder in the company, which currently offers a substantial 12.82% dividend yield.
Saga Communications, headquartered in Grosse Pointe Farms, Michigan, is a prominent player in the radio broadcasting sector with a market capitalization of $78.89 million. InvestingPro analysis reveals multiple positive factors, including strong financial health metrics and maintained dividend payments. Subscribers can access 8 additional ProTips and a comprehensive Pro Research Report for deeper insights into SGA’s investment potential.
In other recent news, Saga Communications has declared a quarterly cash dividend of $0.25 per share. The upcoming distribution, leveraging the company’s cash reserves, will total approximately $1.6 million. This declaration continues Saga’s practice of returning value to its shareholders, with around $137 million in dividends paid out since 2012. The company intends to maintain regular quarterly dividends and potentially offer variable dividends, in line with its policy aimed at balancing financial stability, shareholder returns, and strategic growth. Saga’s capital allocation approach also includes the potential for special dividends and stock buybacks, subject to the discretion of its Board of Directors. In terms of company developments, Saga is exploring growth avenues adjacent to its core radio business, such as digital, e-commerce, and non-traditional revenue streams. However, it’s important to note that future dividends and stock buybacks are not guaranteed, as they depend on the company’s ongoing financial health and market conditions.
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