Saga Communications Declares 4 for 3 Stock Split
December 12, 2012 at 11:32 AM (PT)
SAGA COMMUNICATIONS' Board of Directors has declared a 4 for 3 stock split on its Class A and Class B Common Shares. The new shares will be distributed on JANUARY 16, 2013 to shareholders of record as of the close of business on DECEMBER 28, 2012.
As a result of the stock split, each shareholder of Class A Common Stock will receive one additional share of Class A Common Stock for every three shares of Class A Common Stock owned, and each shareholder of Class B Common Stock will receive one additional share of Class B Common Stock for every three shares of Class B Common Stock owned. Fractional shares will be paid for in cash.