Shaw Communications Inc. (NYSE:SJR) (TSE:SJR.B) declared a monthly dividend on Friday, October 27th, Wall Street Journal reports. Stockholders of record on Friday, December 15th will be paid a dividend of 0.0781 per share on Thursday, December 28th. This represents a $0.94 annualized dividend and a dividend yield of 4.10%. The ex-dividend date is Thursday, December 14th. This is a boost from Shaw Communications’s previous monthly dividend of $0.07.
Shaw Communications has decreased its dividend by an average of 3.3% per year over the last three years. Shaw Communications has a payout ratio of 116.7% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Shaw Communications to earn $1.11 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 107.2%.
Shaw Communications (NYSE SJR) opened at $22.83 on Friday. Shaw Communications has a fifty-two week low of $19.76 and a fifty-two week high of $23.31. The firm has a market cap of $10,867.96, a PE ratio of 26.83, a PEG ratio of 4.47 and a beta of 0.95. The company has a current ratio of 0.80, a quick ratio of 0.72 and a debt-to-equity ratio of 0.70.
SJR has been the topic of a number of analyst reports. Scotiabank lowered shares of Shaw Communications from an “outperform” rating to a “sector perform” rating in a report on Thursday, October 12th. Zacks Investment Research lowered shares of Shaw Communications from a “buy” rating to a “hold” rating in a report on Tuesday, October 10th. TheStreet upgraded shares of Shaw Communications from a “c” rating to a “b-” rating in a report on Monday, October 30th. Barclays upped their target price on shares of Shaw Communications from $21.00 to $22.00 and gave the stock an “equal weight” rating in a report on Friday, October 27th. Finally, BidaskClub upgraded shares of Shaw Communications from a “sell” rating to a “hold” rating in a report on Tuesday, August 22nd. One research analyst has rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company. Shaw Communications currently has an average rating of “Hold” and an average target price of $27.50.
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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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