Saga Communications has announced its first quarter financial results, and like many other radio-focused groups, the company saw a decline during the first stretch of 2024.
During the first three months of the year, the company saw a revenue decline of 2.5%, dropping to $24.7 million compared to the $25.3 million it earned during the same period in 2023.
Operating losses were also up for the broadcaster, as it lost $2.4 million during the quarter. During the same time period last year, it lost $905,000.
Additionally, the company paid dividends of 25 cents per share during the quarter, amounting to approximately $1.6 million. Another variable dividend was paid on April 5th, with that garnering 60 cents per share, up to approximately $3.8 million.
In total, Saga Communications has paid more than $130 million in total dividends to shareholders since 2012.
