Shaw Communications Inc (NYSE:SJR) (TSE:SJR.B) announced a monthly dividend on Friday, January 13th. Shareholders of record on Monday, May 15th will be given a dividend of 0.0747 per share on Tuesday, May 30th. This represents a $0.90 dividend on an annualized basis and a yield of 4.23%. The ex-dividend date is Thursday, May 11th.
Shaw Communications has decreased its dividend payment by an average of 3.3% annually over the last three years. Shaw Communications has a dividend payout ratio of 119.0% 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 $1.03 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 115.5%.
Shaw Communications (NYSE:SJR) last released its earnings results on Wednesday, April 12th. The company reported $0.23 earnings per share for the quarter, hitting the consensus estimate of $0.23. Shaw Communications had a return on equity of 9.73% and a net margin of 22.09%. The business had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.32 billion. During the same period last year, the company earned $0.34 earnings per share. The business’s revenue for the quarter was up 13.3% compared to the same quarter last year.
SJR has been the subject of several research analyst reports. Canaccord Genuity set a $28.00 target price on Shaw Communications and gave the stock a “hold” rating in a research report on Monday, May 1st. Citigroup Inc initiated coverage on Shaw Communications in a research report on Thursday, April 6th. They set a “sell” rating for the company. Finally, Zacks Investment Research lowered Shaw Communications from a “buy” rating to a “hold” rating in a research note on Wednesday, March 22nd. Two analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $26.88.
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About Shaw Communications
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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