Shaw Communications Inc. (NYSE:SJR) (TSE:SJR.B) announced a monthly dividend on Thursday, June 29th, Wall Street Journal reports. Investors of record on Friday, October 13th will be paid a dividend of 0.0744 per share on Monday, October 30th. This represents a $0.89 dividend on an annualized basis and a dividend yield of 3.89%. The ex-dividend date of this dividend is Thursday, October 12th.
Shaw Communications has decreased its dividend payment 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 $1.08 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 110.2%.
Shares of Shaw Communications (NYSE:SJR) opened at 22.99 on Wednesday. The stock has a market cap of $11.34 billion, a price-to-earnings ratio of 26.67 and a beta of 0.91. The firm’s 50-day moving average price is $22.66 and its 200-day moving average price is $21.87. Shaw Communications has a 12-month low of $19.02 and a 12-month high of $23.31.
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Several analysts recently weighed in on the stock. Zacks Investment Research downgraded shares of Shaw Communications from a “buy” rating to a “hold” rating in a report on Tuesday. National Bank Financial downgraded shares of Shaw Communications from an “outperform market weight” rating to a “sector perform market weight” rating in a research note on Wednesday, June 28th. Finally, BidaskClub upgraded shares of Shaw Communications from a “hold” rating to a “buy” rating in a research note on Tuesday, June 27th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $27.14.
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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