SJR - SJR STOCK NEWS

Shaw Communications has declared monthly dividends of $0.09875 per Class B Non-Voting Participating Share and $0.098542 per Class A Participating Share. These will be payable on January 30, 2023, to shareholders on record by January 13, 2023. The dividends are classified as 'eligible' under the Income Tax Act of Canada. Importantly, if the Effective Date of the Arrangement with Rogers Communications occurs before the record date, no further dividends will be issued on these classes of shares.

Rogers Communications and Shaw Communications are committed to their proposed merger and the acquisition of Freedom Mobile by Quebecor. Following the Competition Tribunal's favorable decision, the Commissioner of Competition has announced an appeal and sought an injunction against the transactions. Despite the setback, both companies emphasize the competitive advantages these transactions will provide to Canadians. The mergers have received shareholder and regulatory approvals, but are still subject to additional approvals and potential delays.

Rogers Communications and Shaw Communications have received a favorable ruling from the Competition Tribunal allowing the acquisition of Freedom Mobile by Videotron, a subsidiary of Quebecor. The only remaining approval needed is from the Minister of Innovation, Science and Industry for the transfer of wireless spectrum licenses. The companies are optimistic about closing the transaction by January 31, 2023, following approvals from various regulatory bodies, including shareholders and the CRTC.

Shaw Communications reported its Q4 2022 results, showing a 1.5% decline in revenue to $1.36 billion while adjusted EBITDA rose 1.6% to $624 million. For the full year, revenue decreased 1.1% to $5.45 billion, but adjusted EBITDA increased 1.4% to $2.53 billion. Net income fell 32.9% to $169 million in Q4, with free cash flow down 69.2% to $70 million. The company continues to face challenges, including litigation related to its merger with Rogers and potential delays in closing significant transactions.

Shaw Communications Inc. will announce its fiscal 2022 consolidated results for Q4 and the full year on November 29, 2022, before North American markets open. There will be no conference call after the results, but inquiries can be directed to investor relations. Shaw provides various services including broadband Internet, WiFi, video, and digital phone for both consumers and businesses, along with wireless services. The company is publicly traded on the Toronto and New York stock exchanges, symbol SJR.

On October 27, 2022, Quebecor, Rogers, and Shaw participated in a mediation session regarding the Competition Tribunal process, which ended without a settlement. The companies expressed disappointment, arguing that litigation could hinder competition and delay lower wireless prices for consumers. They remain committed to completing transactions that aim to reshape Canada's telecommunications landscape. The Freedom Mobile acquisition by Quebecor is expected to strengthen competition in wireless services, while the Shaw-Rogers merger will enhance their wireline business capabilities.

The definitive agreement between Rogers, Shaw, and Quebecor for the sale of Freedom Mobile aims to create a robust national wireless carrier in Canada. The transaction, contingent on regulatory approvals, is expected to enhance competition by leveraging Videotron’s assets to deliver 5G services across the country. This merger addresses regulatory concerns regarding market competition and enhances Rogers' merger with Shaw, which is extending its closing date to December 31, 2022. All parties are committed to finalizing the transactions, which promise improved service offerings for Canadian consumers.

Shaw Communications Inc. has declared monthly dividends of $0.09875 per Class B Non-Voting Participating Share and $0.098542 per Class A Participating Share. These dividends will be payable on August 30, September 29, October 28, November 29, and December 29, 2022. Shareholders must hold shares by the record dates ending on August 15, September 15, October 14, November 15, and December 15, 2022 to receive payments. The dividends are designated as “eligible” under the Income Tax Act. If the arrangement with Rogers Communications takes effect before the record dates, dividends will cease.

Rogers, Shaw, and the Shaw Family Living Trust have agreed to extend the deadline for their merger to December 31, 2022, with the option to extend to January 31, 2023. This extension reflects their ongoing commitment to the merger, which has previously received shareholder and court approvals. Additionally, the companies are in talks for the divestiture of Freedom Mobile to Quebecor, with negotiations progressing for definitive transaction documents. The merger still requires approval from regulatory bodies, including the Competition Tribunal.