Shaw Declares Monthly Dividends

Rhea-AI Summary

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.

Positive

• Monthly dividends of $0.09875 and $0.098542 provide consistent income for shareholders.
• Designation as 'eligible' dividends enhances tax benefits for shareholders.

Negative

• Potential for no dividends if the Arrangement with Rogers Communications is executed before the record date.

CALGARY, Alberta, Dec. 30, 2022 (GLOBE NEWSWIRE) -- Shaw Communications Inc. (“Shaw”) announced today that its Board of Directors has declared monthly dividends of $0.09875 per Class B Non-Voting Participating Share and $0.098542 per Class A Participating Share, payable on January 30, 2023 to holders of record at the close of business on January 13, 2023.

The foregoing dividends are designated as “eligible” dividends for the purposes of the Income Tax Act (Canada) and any similar provincial legislation.

Shareholders will not be entitled to receive a particular dividend unless they are holders of record on the applicable record date. There is no entitlement to any dividend prior to such date.

If the Effective Date of the Arrangement (each as defined in the Arrangement Agreement dated March 13, 2021, between Shaw and Rogers Communications Inc.) occurs prior to the record date set forth above, no further dividends will be paid on the Class B Non-Voting Participating Shares and the Class A Participating Shares.

About Shaw Communications Inc.

Shaw Communications Inc. is a leading Canadian connectivity company. The Wireline division consists of Consumer and Business services. Consumer serves residential customers with broadband Internet, video and digital phone. Business provides business customers with Internet, data, WiFi, digital phone, and video services. The Wireless division provides wireless voice and LTE data services.

Shaw is traded on the Toronto and New York stock exchanges and is included in the S&P/TSX 60 Index (Symbol: TSX – SJR.B, NYSE – SJR, and TSXV – SJR.A). For more information, please visit www.shaw.ca.

For further information, please contact:
Shaw Investor Relations investor.relations@sjrb.ca

FAQ

What is the dividend amount for Shaw Communications in January 2023?

Shaw Communications announced dividends of $0.09875 for Class B shares and $0.098542 for Class A shares.

When will Shaw Communications pay its dividends?

The dividends are payable on January 30, 2023, to shareholders on record by January 13, 2023.

What does it mean that Shaw's dividends are 'eligible'?

'Eligible' dividends qualify for preferential tax treatment under the Income Tax Act of Canada.

What happens to the dividends if the Arrangement with Rogers Communications occurs before January 13, 2023?

If the Arrangement's Effective Date occurs before the record date, no further dividends will be paid on the Class B and Class A shares.

What is the stock symbol for Shaw Communications?

Shaw Communications is traded under the stock symbol SJR on both the Toronto and New York Stock Exchanges.