Saga Q2 Net Revenue Increases 66.3% to $28 Million

RADIO ONLINE | Thursday, August 5, 2021 | 12:40pm CT

Saga Communications

Saga Communications reported second quarter net revenue grew 66.3% to $28 million from $16.9 million in 2020. Station operating expense increased 12.9% to $21 million from $18.6 million, while station operating income climbed to $8.4 million from a loss of $181,000. Operating income fell to $4.6 million from a loss of $8.7 million. The company posted a net income of $3.3 million (54 cents per diluted share) as compared to a net loss of $.9 million (82 cents) in the year-ago period.

The company reinstated its quarterly dividend with the declaration of a $0.16 per share dividend which was paid on July 16. The amount of the quarterly dividend was $960,000. The company has now paid over $72 million in dividends to shareholders since the first special dividend was paid in 2012.