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.
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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