This paper reports on preparation of a magnetically anisotropic polycrystalline hexaferrite, Sr$_0.95$Ca$_0.05$Fe$_12$O$_19$, whose orientation degree is as high as 100%. The preparation uses standard ceramic techniques, including wet pressing and flowing-oxygen sintering. In this process, Ca$^+2$ions are substituted for Sr$^+2$ions in SrFe$_12$O$_19$by adding minimum impurities (Bi$_2$O$_3$and MnCO$_3$). Such a hexaferrite has a dielectric loss lower than$hbox2.3 times hbox10^-3$at 9.5 GHz, which is important for microwave applications and possibly for millimeter-wave applications. The paper describes the variation of specific saturation magnetization$sigma_ s$and magnetic crystal anisotropy field ($H_a$) with temperature ($T$), and compares the magnetic properties of the sintered hexaferrite with those of the strontium hexaferrite SrFe$_12$O$_19$.