0001144204-15-066490.txt : 20151117 0001144204-15-066490.hdr.sgml : 20151117 20151117165135 ACCESSION NUMBER: 0001144204-15-066490 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20151117 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20151117 DATE AS OF CHANGE: 20151117 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SAGA COMMUNICATIONS INC CENTRAL INDEX KEY: 0000886136 STANDARD INDUSTRIAL CLASSIFICATION: RADIO BROADCASTING STATIONS [4832] IRS NUMBER: 383042953 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-11588 FILM NUMBER: 151238716 BUSINESS ADDRESS: STREET 1: 73 KERCHEVAL AVE CITY: GROSSE POINTE FARMS STATE: MI ZIP: 48236 BUSINESS PHONE: 3138867070 MAIL ADDRESS: STREET 1: 73 KERCHEVAL AVE CITY: GROSSE POINTE FARMS STATE: MI ZIP: 48236 8-K 1 v425053_8k.htm FORM 8-K

UNITED STATES 

SECURITIES AND EXCHANGE COMMISSION 

Washington, D.C. 20549 

 

 

FORM 8-K

 

 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

 

Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported): November 17, 2015

 

 

SAGA COMMUNICATIONS, INC.

(Exact Name of Registrant as Specified in its Charter)

 

Delaware 1-11588 38-3042953
(State or other jurisdiction (Commission File Number) (IRS Employer
of incorporation)   Identification No.)

 

73 Kercheval Avenue  
Grosse Pointe Farms, MI 48236
(Address of Principal Executive Offices) (Zip Code)

 

Registrant’s telephone number, including area code: (313) 886-7070

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
   
¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
   
¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
   
¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

 

 

Item 8.01 Other Events

 

On November 17, 2015, Saga Communications, Inc. announced that its Board of Directors declared a quarterly cash dividend of $0.25 per share and a special cash dividend of $0.25 per share on its Classes A and B Common Stock to be paid on December 11, 2015 to shareholders of record on November 30, 2015, as set forth in the press release included as Exhibit 99.1 hereto.

 

 

Item 9.01 Financial Statements and Exhibits

  

(d)Exhibits.

 

Exhibit No.   Description
     
99.1   Press Release dated November 17, 2015.

 

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. 

 

  SAGA COMMUNICATIONS, INC.
     
     
Dated:  November 17, 2015 By: /s/ Samuel D. Bush
    Samuel D. Bush
    Senior Vice President and Chief Financial Officer

 

 

 

 

INDEX OF EXHIBITS

 

 

Exhibit No.   Description
99.1   Press release dated November 17, 2015.

 

 

 EX-99.1 2 v425053_ex99-1.htm EXHIBIT 99.1

Saga Communications, Inc. Declares Quarterly Cash Dividend of $0.25 per Share and Special Cash Dividend of $0.25 per Share

GROSSE POINTE FARMS, Mich., Nov. 17, 2015 /PRNewswire/ -- Saga Communications, Inc. (NYSE MKT-SGA) today announced that its Board of Directors declared a quarterly cash dividend of $0.25 per share which is an increase of 25% over the quarterly dividends previously paid. The Board of Directors also declared a special cash dividend of $0.25 per share for its Class A and Class B shares. The dividends will be paid on December 11, 2015 to shareholders of record on November 30, 2015. The aggregate amount of the payment to be made in connection with the quarterly and special dividends will be approximately $2.9 million. The quarterly and special cash dividends will be funded by cash on the Company's balance sheet.

The Company recently closed on its acquisitions in Harrisonburg, VA in the amount of $11.5 million which was paid with cash on the Company's balance sheet as well as entering into an agreement to purchase WLVQ-FM in Columbus, OH for $13.0 million which is pending FCC approval. The Company intends to pay for this pending acquisition with cash on the Company's balance sheet.

The Company intends to pay regular quarterly cash dividends in the future as declared by the Board of Directors. Consistent with returning value to our shareholders, the Board of Directors will also consider declaring special cash dividends, stock dividends, and stock buybacks in the future.

Saga Communications, Inc. is a broadcasting company whose business is devoted to acquiring, developing and operating broadcast properties. The Company owns or operates broadcast properties in 26 markets, including 67 FM and 32 AM radio stations, 1 state radio network, 4 television stations and 4 low-power television stations. For additional information, contact us at (313) 886-7070 or visit our website at www.sagacommunications.com.

This press release contains certain forward-looking statements that are based upon current expectations and involve certain risks and uncertainties within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Words such as "believes," "expects," "anticipates," "guidance," "intent" and similar expressions are intended to identify forward-looking statements. Key risks, including risks associated with Saga's ability to effectively integrate the stations it acquires and the impact of federal regulation on Saga's business, are described in the reports Saga periodically files with the U.S. Securities and Exchange Commission, including Item 1A of our Annual Report on Form 10-K. Readers should note that these statements may be impacted by several factors, including national and local economic changes and changes in the radio and television broadcast industry in general, as well as Saga's actual performance. Results may vary from those stated herein and Saga undertakes no obligation to update the information contained here.



CONTACT: Samuel D. Bush, 313/886-7070