Shaw Communications Inc (NYSE:SJR) Declares Monthly Dividend of $0.08

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Shaw Communications Inc (NYSE:SJR) (TSE:SJR.B) announced a monthly dividend on Friday, October 26th, Wall Street Journal reports. Stockholders of record on Friday, February 15th will be given a dividend of 0.0754 per share on Wednesday, February 27th. This represents a $0.90 annualized dividend and a dividend yield of 4.85%. The ex-dividend date of this dividend is Thursday, February 14th. This is a boost from Shaw Communications’s previous monthly dividend of $0.07.

Shaw Communications has decreased its dividend by an average of 2.7% per year over the last three years. Shaw Communications has a dividend payout ratio of 138.4% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Shaw Communications to earn $1.10 per share next year, which means the company may not be able to cover its $1.19 annual dividend with an expected future payout ratio of 108.2%.

Shares of SJR traded down $0.10 during midday trading on Friday, hitting $18.66. The company had a trading volume of 363,003 shares, compared to its average volume of 613,840. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.57 and a current ratio of 0.64. Shaw Communications has a 52 week low of $18.18 and a 52 week high of $23.44. The company has a market capitalization of $9.04 billion, a P/E ratio of 15.81, a PEG ratio of 3.58 and a beta of 0.94.

Shaw Communications (NYSE:SJR) (TSE:SJR.B) last announced its quarterly earnings data on Thursday, October 25th. The company reported $0.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.03. Shaw Communications had a net margin of 1.04% and a return on equity of 12.90%. The business had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.02 billion. As a group, sell-side analysts expect that Shaw Communications will post 1.04 earnings per share for the current fiscal year.

Several research firms have commented on SJR. Canaccord Genuity cut shares of Shaw Communications from a “buy” rating to a “hold” rating in a research report on Thursday, October 25th. ValuEngine raised shares of Shaw Communications from a “sell” rating to a “hold” rating in a research note on Monday, October 22nd. Finally, Zacks Investment Research raised shares of Shaw Communications from a “hold” rating to a “buy” rating and set a $22.00 price target for the company in a research note on Tuesday, September 25th. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $27.50.

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About Shaw Communications

Shaw Communications Inc operates as a diversified communications company in North America. The company operates through Consumer, Business Network Services, and Wireless segments. The Consumer segment provides cable telecommunications services, including video, Internet, Wi-Fi, phone, and satellite video services to residential customers.

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Dividend History for Shaw Communications (NYSE:SJR)

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