Saga Communications declares $2.00 special cash dividend payable Jan 12, 2024

SAGA COMMUNICATIONS INC

Special cash dividend of $2.00 per share paid on Jan 12, 2024 to holders of record Dec 20, 2023.
Aggregate payment of approximately $12.5 million, funded from balance sheet cash.
Board aims to reduce cash and short-term investments to ~$25 million before future cash flows.
Total dividends paid since 2012 exceed $125.3 million; variable dividend policy under consideration for Q4 2023.
Future dividends (regular, variable, special) and stock buybacks remain at Board's discretion.

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