Saga Communications reports net revenue of $28.7 million in the second quarter of 2024, down 1.5% from the same period in 2023. The company also reports net income of $2.5 million for the quarter compared to net income of $3.4 million for the second quarter last year. Saga notes in its report that it closed on its
acquisition of five radio stations and one translator in Lafayette, Indiana on May 31, 2024, and that the stations were operated by Saga for one month during the second quarter of 2024. Saga paid a quarterly dividend of $0.25 per share on June 28, 2024. The aggregate amount of the quarterly dividend was approximately $1.6 million. To date, Saga has paid over $132 million in dividends to shareholders since the first special dividend was paid in 2012. Saga’s balance sheet reflects $24.1 million in cash and short-term investments as of June 30, 2024, and $26.2 million as of August 5, 2024.
