Shaw Communications Inc (NYSE:SJR) Increases Dividend to $0.08 Per Share

Shaw Communications Inc (NYSE:SJR) (TSE:SJR.B) announced a monthly dividend on Tuesday, January 14th, Wall Street Journal reports. Investors of record on Wednesday, January 15th will be given a dividend of 0.0757 per share on Thursday, January 30th. This represents a $0.91 dividend on an annualized basis and a yield of 4.59%. The ex-dividend date is Tuesday, January 14th. This is a boost from Shaw Communications’s previous monthly dividend of $0.07.

Shaw Communications has raised its dividend by an average of 9.9% annually over the last three years and has raised its dividend annually for the last 2 consecutive years. Shaw Communications has a dividend payout ratio of 109.2% meaning 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 $1.16 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 102.6%.

NYSE SJR traded down $0.45 during trading hours on Tuesday, reaching $19.78. 941,863 shares of the company’s stock were exchanged, compared to its average volume of 337,478. The stock has a market cap of $10.03 billion, a PE ratio of 18.31, a price-to-earnings-growth ratio of 4.13 and a beta of 0.71. Shaw Communications has a one year low of $18.69 and a one year high of $21.08. The firm has a fifty day moving average of $20.32 and a 200-day moving average of $19.98. The company has a current ratio of 0.78, a quick ratio of 0.75 and a debt-to-equity ratio of 0.65.

Shaw Communications (NYSE:SJR) (TSE:SJR.B) last released its quarterly earnings results on Monday, January 13th. The company reported $0.31 EPS for the quarter, topping the Zacks’ consensus estimate of $0.28 by $0.03. The business had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.38 billion. Shaw Communications had a return on equity of 11.92% and a net margin of 13.76%. Shaw Communications’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.36 EPS. As a group, research analysts forecast that Shaw Communications will post 1.09 EPS for the current year.

Separately, TD Securities lowered Shaw Communications to a “buy” rating and set a $32.00 price target on the stock. in a research report on Monday, October 21st. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company’s stock. Shaw Communications has an average rating of “Buy” and an average target price of $28.25.

About Shaw Communications

Shaw Communications Inc operates as a connectivity company in North America. The company operates through Wireline and Wireless segments. The Wireline segment provides broadband Internet, Shaw Go WiFi, video, and digital phone services to residential customers; and Internet, data, WiFi, digital phone, and video services to business customers.

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Dividend History for Shaw Communications (NYSE:SJR)

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