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

Shaw Communications Inc. (NYSE:SJR) (TSE:SJR.B) announced a monthly dividend on Friday, January 14th, Wall Street Journal reports. Shareholders of record on Tuesday, March 15th will be given a dividend of 0.0789 per share on Wednesday, March 30th. This represents a $0.95 dividend on an annualized basis and a dividend yield of 3.14%. The ex-dividend date of this dividend is Monday, March 14th.

Shaw Communications has increased its dividend payment by 3.4% over the last three years and has raised its dividend every year for the last 1 years. Shaw Communications has a payout ratio of 74.4% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Shaw Communications to earn $1.28 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 72.7%.

SJR stock opened at $30.17 on Friday. The company has a market cap of $14.38 billion, a P/E ratio of 18.74 and a beta of 0.68. Shaw Communications has a 1 year low of $17.06 and a 1 year high of $30.66. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.81 and a quick ratio of 0.75. The stock’s fifty day moving average price is $29.51 and its 200-day moving average price is $29.18.

Shaw Communications (NYSE:SJR) (TSE:SJR.B) last released its earnings results on Wednesday, January 12th. The company reported $0.39 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.29 by $0.10. The company had revenue of $1.39 billion for the quarter, compared to the consensus estimate of $1.39 billion. Shaw Communications had a return on equity of 17.03% and a net margin of 18.48%. Shaw Communications’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.24 earnings per share. As a group, analysts expect that Shaw Communications will post 1.26 earnings per share for the current year.

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

Separately, Royal Bank of Canada upgraded Shaw Communications from a “sector perform” rating to an “outperform” rating in a research report on Monday, November 8th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $38.13.

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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