SJR - SJR STOCK NEWS

Shaw Communications held its annual shareholder meeting on January 12, 2022, where all proposed resolutions were adopted. Key outcomes included the election of thirteen directors, receiving over 99% of votes in favor, and the appointment of Ernst & Young LLP as auditors, which garnered 99.998% approval. Shaw continues to operate as a leading Canadian connectivity company, providing services through its wireline and wireless divisions, and is publicly traded on both the Toronto and New York stock exchanges under the ticker symbol SJR.

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 dividends are payable on March 30, April 28, and May 30, 2022. Shareholders must hold shares by the record dates: March 15, April 14, and May 13, 2022. The dividends are designated as eligible under the Income Tax Act (Canada). Shaw's Board reviews dividend rates quarterly and notes that if the arrangement with Rogers Communications is effective before the record dates, further dividends may not be distributed.

Shaw Communications reported first-quarter financial results for the period ending November 30, 2021, showing a 1.2% revenue increase to $1.39 billion. Adjusted EBITDA rose 4.3% to $633 million, while net income surged 20.2% to $196 million. Wireless revenue increased 4.7% to $332 million, bolstered by a 11.2% rise in service revenue. However, Wireline revenue remained stable at $1.06 billion, with a 1.6% decline in Consumer revenue. Free cash flow for the quarter was $236 million, up 4.9% from the previous year.

Shaw Communications will announce its Q1 2022 financial results on January 12, 2022, before North American markets open. This release will cover results for the first quarter ending November 30, 2021. Notably, there will be no conference call following the results announcement. Stakeholders are invited to submit inquiries regarding the results to investor.relations@sjrb.ca. Shaw operates in both wireline and wireless sectors, serving consumer and business markets.

Rogers Communications is seeking regulatory approval for its merger with Shaw Communications, emphasizing a shared vision for enhancing digital infrastructure across Canada. Edward Rogers, Chairman of Rogers, highlighted the need for scale to compete globally and improve connectivity in underserved areas. Shaw's CEO, Brad Shaw, echoed the importance of this merger for meeting evolving customer needs and bridging the digital divide. Together, they plan to invest $2.5 billion into 5G networks and create a $1 billion Rogers Rural and Indigenous Connectivity Fund, while addressing affordability through the Connected for Success initiative.

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 dividends are payable on December 30, 2021, January 28, 2022, and February 25, 2022, to shareholders on record as of December 15, 2021, January 14, 2022, and February 15, 2022. The dividends are designated as “eligible” under the Income Tax Act (Canada). Shaw Communications is a major Canadian connectivity firm, providing both wireline and wireless services.

Shaw Communications reported its fourth quarter and fiscal year 2021 results, with consolidated revenue rising 2.1% year-over-year to $1.38 billion and adjusted EBITDA growing 3.4% to $614 million. Fiscal 2021 net income surged by 44% to $252 million, driven by a reduction in bad debt and improved operational performance despite the ongoing impacts of COVID-19. Shaw added 60,500 new Wireless customers in the fourth quarter, contributing to a 10.4% growth in Wireless service revenue. The company plans to support its merger with Rogers, valued at approximately $26 billion, which is expected to close in the first half of 2022.

Shaw Communications Inc. will release its consolidated results for the fourth quarter and full year ending August 31, 2021, on October 29, 2021, before North American markets open. Management has opted not to hold a conference call after the results are published. For inquiries, shareholders can reach out via investor.relations@sjrb.ca. Shaw is a major Canadian connectivity firm with services in wireline and wireless sectors, and trades on the Toronto and New York stock exchanges under symbols SJR.B and SJR.

Shaw Communications supports the Canadian government’s initiative to enhance the Connecting Families program, aimed at providing affordable Internet to low-income families. President Paul McAleese emphasized the importance of bridging the digital divide and highlighted the company’s commitment to offer low-cost broadband services. The proposed merger with Rogers Communications aims to expand internet services under the Connected for Success initiative across Canada. The initiative currently supports subsidized tenants, seniors, and families, but forward-looking statements indicate potential risks and uncertainties regarding the completion of the merger.