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

Shaw Communications Inc. (NYSE:SJR) (TSE:SJR.B) announced a monthly dividend on Friday, January 14th, Wall Street Journal reports. Investors of record on Thursday, April 14th will be given a dividend of 0.0789 per share on Thursday, April 28th. This represents a $0.95 dividend on an annualized basis and a yield of 3.14%. The ex-dividend date is Wednesday, April 13th.

Shaw Communications has raised its dividend by 3.4% over the last three years and has increased its dividend annually for the last 1 consecutive years. Shaw Communications has a payout ratio of 74.4% meaning its dividend is sufficiently covered by earnings. Analysts expect Shaw Communications to earn $1.27 per share next year, which means the company should continue to be able to cover its $0.93 annual dividend with an expected future payout ratio of 73.2%.

Shaw Communications stock traded up $0.05 during mid-day trading on Friday, reaching $30.17. 187,126 shares of the company’s stock traded hands, compared to its average volume of 211,933. The company has a market cap of $14.38 billion, a price-to-earnings ratio of 18.63 and a beta of 0.68. The stock has a 50 day moving average of $29.48 and a two-hundred day moving average of $29.17. The company has a quick ratio of 0.75, a current ratio of 0.79 and a debt-to-equity ratio of 0.75. Shaw Communications has a 12-month low of $17.06 and a 12-month high of $30.66.

Shaw Communications (NYSE:SJR) (TSE:SJR.B) last released its quarterly earnings results on Wednesday, January 12th. The company reported $0.39 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.29 by $0.10. Shaw Communications had a net margin of 18.48% and a return on equity of 17.12%. The company had revenue of $1.39 billion for the quarter, compared to the consensus estimate of $1.39 billion. During the same quarter in the prior year, the firm earned $0.24 earnings per share. Shaw Communications’s revenue was up 1.2% on a year-over-year basis. As a group, sell-side analysts forecast that Shaw Communications will post 1.28 earnings per share for the current year.

Separately, Royal Bank of Canada raised shares of Shaw Communications from a “sector perform” rating to an “outperform” rating in a research note on Monday, November 8th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $35.42.

A hedge fund recently bought a new stake in Shaw Communications stock. LPL Financial LLC purchased a new position in Shaw Communications Inc. (NYSE:SJR) (TSE:SJR.B) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 34,064 shares of the company’s stock, valued at approximately $989,000. Institutional investors own 55.70% of the company’s stock.

Shaw Communications Company Profile

Shaw Communications, Inc engages in the provision of cable telecommunications and satellite video services. The company was founded by James Robert Shaw on December 9, 1966 and is headquartered in Calgary, Canada.

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Dividend History for Shaw Communications (NYSE:SJR)

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