Shaw Communications Inc (SJR) Announces Monthly Dividend of $0.08
Shaw Communications Inc (NYSE:SJR) (TSE:SJR.B) announced a monthly dividend on Tuesday, January 16th, Wall Street Journal reports. Stockholders of record on Friday, April 13th will be paid a dividend of 0.0795 per share on Friday, April 27th. This represents a $0.95 annualized dividend and a dividend yield of 4.39%. The ex-dividend date is Thursday, April 12th.
Shaw Communications has decreased its dividend by an average of 2.7% per year over the last three years. Shaw Communications has a payout ratio of 93.1% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Research analysts expect Shaw Communications to earn $1.08 per share next year, which means the company should continue to be able to cover its $0.95 annual dividend with an expected future payout ratio of 88.0%.
Shares of Shaw Communications (NYSE:SJR) traded down $0.06 on Tuesday, hitting $21.72. 555,095 shares of the stock traded hands, compared to its average volume of 708,849. The firm has a market capitalization of $10,930.00, a PE ratio of 22.86, a PEG ratio of 4.59 and a beta of 0.96. Shaw Communications has a 1-year low of $20.13 and a 1-year high of $23.44. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.76 and a quick ratio of 0.66.
SJR has been the topic of several research reports. Zacks Investment Research raised shares of Shaw Communications from a “hold” rating to a “buy” rating and set a $25.00 price target on the stock in a research report on Tuesday, September 19th. Scotiabank cut shares of Shaw Communications from an “outperform” rating to a “sector perform” rating in a report on Thursday, October 12th. Barclays raised their target price on shares of Shaw Communications from $21.00 to $22.00 and gave the company an “equal weight” rating in a report on Friday, October 27th. TheStreet raised shares of Shaw Communications from a “c” rating to a “b-” rating in a report on Monday, October 30th. Finally, Bank of America reaffirmed a “neutral” rating and issued a $32.00 target price on shares of Shaw Communications in a report on Tuesday, December 5th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company’s stock. Shaw Communications currently has an average rating of “Hold” and an average price target of $27.00.
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Shaw Communications Company Profile
Shaw Communications Inc (Shaw) is a diversified connectivity provider. The Company operates through four divisions: Consumer, Wireless, Business Network Services and Business Infrastructure Services. Under the Consumer division, the Company offers Cable telecommunications and Satellite video services to residential customers.
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