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Saga Communications is a holding company. Through its subsidiaries, Co, is a broadcast company primarily engaged in acquiring, developing and operating broadcast properties. As of Feb. 28, 2018, Co. owned 75 FM and 33 AM radio stations. The radio stations that Co. owns and/or operates employ a variety of programming formats, including Classic Hits, Adult Hits, Top 40, Country, Country Legends, Mainstream/Hot/Soft Adult Contemporary, Pure Oldies, Classic Rock, and News/Talk. Co. is also engaged in the sale of advertising for broadcast on its stations. Depending on the format of a particular radio station, there are a predetermined number of advertisements broadcast each hour. According to our SGA split history records, Saga Communications has had 8 splits.
SGA split history picture
Saga Communications (SGA) has 8 splits in our SGA split history database. The first split for SGA took place on August 01, 1995. This was a 5 for 4 split, meaning for each 4 shares of SGA owned pre-split, the shareholder now owned 5 shares. For example, a 1000 share position pre-split, became a 1250 share position following the split. SGA's second split took place on May 01, 1996. This was a 5 for 4 split, meaning for each 4 shares of SGA owned pre-split, the shareholder now owned 5 shares. For example, a 1250 share position pre-split, became a 1562.5 share position following the split. SGA's third split took place on April 02, 1997. This was a 5 for 4 split, meaning for each 4 shares of SGA owned pre-split, the shareholder now owned 5 shares. For example, a 1562.5 share position pre-split, became a 1953.125 share position following the split. SGA's 4th split took place on June 01, 1998. This was a 5 for 4 split, meaning for each 4 shares of SGA owned pre-split, the shareholder now owned 5 shares. For example, a 1953.125 share position pre-split, became a 2441.40625 share position following the split. SGA's 5th split took place on December 16, 1999. This was a 5 for 4 split, meaning for each 4 shares of SGA owned pre-split, the shareholder now owned 5 shares. For example, a 2441.40625 share position pre-split, became a 3051.7578125 share position following the split. SGA's 6th split took place on June 17, 2002. This was a 5 for 4 split, meaning for each 4 shares of SGA owned pre-split, the shareholder now owned 5 shares. For example, a 3051.7578125 share position pre-split, became a 3814.697265625 share position following the split. SGA's 7th split took place on January 29, 2009. This was a 1 for 4 reverse split, meaning for each 4 shares of SGA owned pre-split, the shareholder now owned 1 share. For example, a 3814.697265625 share position pre-split, became a 953.67431640625 share position following the split. SGA's 8th split took place on January 17, 2013. This was a 4 for 3 split, meaning for each 3 shares of SGA owned pre-split, the shareholder now owned 4 shares. For example, a 953.67431640625 share position pre-split, became a 1271.56575520833 share position following the split.

When a company such as Saga Communications splits its shares, the market capitalization before and after the split takes place remains stable, meaning the shareholder now owns more shares but each are valued at a lower price per share. Often, however, a lower priced stock on a per-share basis can attract a wider range of buyers. If that increased demand causes the share price to appreciate, then the total market capitalization rises post-split. This does not always happen, however, often depending on the underlying fundamentals of the business. When a company such as Saga Communications conducts a reverse share split, it is usually because shares have fallen to a lower per-share pricepoint than the company would like. This can be important because, for example, certain types of mutual funds might have a limit governing which stocks they may buy, based upon per-share price. The $5 and $10 pricepoints tend to be important in this regard. Stock exchanges also tend to look at per-share price, setting a lower limit for listing eligibility. So when a company does a reverse split, it is looking mathematically at the market capitalization before and after the reverse split takes place, and concluding that if the market capitilization remains stable, the reduced share count should result in a higher price per share. Looking at the SGA split history from start to finish, an original position size of 1000 shares would have turned into 1271.56575520833 today. Below, we examine the compound annual growth rate — CAGR for short — of an investment into Saga Communications shares, starting with a $10,000 purchase of SGA, presented on a split-history-adjusted basis factoring in the complete SGA split history. SGA split adjusted history picture

Growth of $10,000.00
With Dividends Reinvested

Start date: 02/23/2009
End date: 02/21/2019
Start price/share: $2.96
End price/share: $34.10
Starting shares: 3,378.38
Ending shares: 4,211.84
Dividends reinvested/share: $9.45
Total return: 1,336.24%
Average Annual Total Return: 30.53%
Starting investment: $10,000.00
Ending investment: $143,583.12
Years: 10.00
 
Growth of $10,000.00
Without Dividends Reinvested

Start date: 02/23/2009
End date: 02/21/2019
Start price/share: $2.96
End price/share: $34.10
Dividends collected/share: $9.45
Total return: 1,371.28%
Average Annual Total Return: 30.85%
Starting investment: $10,000.00
Ending investment: $147,142.21
Years: 10.00
Date Ratio
08/01/19955 for 4
05/01/19965 for 4
04/02/19975 for 4
06/01/19985 for 4
12/16/19995 for 4
06/17/20025 for 4
01/29/20091 for 4
01/17/20134 for 3
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