Shaw Declares Monthly Dividends

Rhea-AI Summary

Shaw Communications Inc. has declared monthly dividends of $0.09875 for Class B Non-Voting Participating Shares and $0.098542 for Class A Participating Shares. These dividends are payable on June 28, 2022 and July 28, 2022 to shareholders on record by June 15, 2022 and July 15, 2022. The dividends are designated as eligible for tax purposes under Canadian law. However, no further dividends will be paid if the Effective Date of the Arrangement with Rogers Communications occurs prior to these record dates.

Positive

• Monthly dividends provide consistent income for shareholders.
• Dividends are eligible for tax benefits under the Income Tax Act (Canada).

Negative

• Dividends may be suspended if the arrangement with Rogers Communications is finalized before record dates.

CALGARY, Alberta, May 09, 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 each of June 28, 2022 and July 28, 2022 to holders of record at the close of business on June 15, 2022 and July 15, 2022, respectively.

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 any of the record dates 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, Shaw Go WiFi, 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 (SJR) in 2022?

Shaw Communications has declared dividends of $0.09875 for Class B Shares and $0.098542 for Class A Shares.

When are the upcoming dividend payment dates for Shaw Communications (SJR)?

The dividends are payable on June 28, 2022, and July 28, 2022.

What are the record dates for the dividends declared by Shaw Communications (SJR)?

The record dates are June 15, 2022, for the June dividend and July 15, 2022, for the July dividend.

Are Shaw Communications' dividends eligible for tax benefits?

Yes, the dividends are designated as eligible for tax purposes under the Income Tax Act (Canada).

What happens to the dividends if the arrangement with Rogers Communications occurs before the record dates?

If the arrangement is finalized before the record dates, no further dividends will be paid on the shares.