Saga Communications, Inc. announced the repurchase of 184,215 shares of its common stock.
The repurchase was made for approximately $2.1 million, at $11.50 per share, through a privately negotiated transaction.
This represents around 2.8% of the company's outstanding common stock.
Stock Repurchase
184,215 shares were repurchased for $2.1 million at $11.50 per share.
Share Impact
The repurchased shares account for approximately 2.8% of the outstanding common stock.
Financial Strategy
The company is committed to delivering value to shareholders through this repurchase.
- This stock repurchase transaction highlights the company's confidence in its long-term strategy and financial stability.
- It provides flexibility in managing the capital structure and showcases disciplined capital allocation to generate returns for stakeholders.
Saga Communications' stock repurchase reflects a strategic move to enhance shareholder value and maintain financial strength. The company's commitment to value creation and disciplined capital management sets a positive tone for future growth.