Shaw Communications Inc. has declared dividends for the three-month period ending September 30, 2020. Shareholders will receive $0.17444 per Series A Preferred Share and $0.14094 per Series B Preferred Share. These dividends are payable on September 30, 2020, to holders of record as of September 15, 2020. Both dividends are classified as "eligible" under the Income Tax Act of Canada. Shaw operates in wireline and wireless divisions, providing various connectivity services to consumers and businesses, and is listed on the Toronto Stock Exchange under symbols SJR.PR.A and SJR.PR.B.
Shaw Communications reported a solid Q3 2020 financial performance amidst the COVID-19 pandemic, showcasing the resilience of its connectivity services. Consolidated revenue slightly decreased by 0.8% to $1.31 billion, while adjusted EBITDA increased 15.3% year-over-year to $609 million. Free Cash Flow rose by 20.2% to $595 million. Wireless service revenue grew by 17.0%, with adjusted EBITDA up 90.6%. However, subscriber acquisition was muted due to retail closures, resulting in a net loss of 5,500 wireless RGUs. The company remains confident in its growth potential post-COVID.
Shaw Communications will release its consolidated third-quarter results for the period ending May 31, 2020, on July 10, 2020, at 2:30 PM MT. A conference call will follow at 3:30 PM MT (5:30 PM ET), allowing press and the public to listen. Participants can join via various toll-free numbers listed in the press release. A replay will be available until August 21, 2020. Shaw continues to operate as a major connectivity provider in Canada, offering wireline and wireless services, and is traded on both the Toronto and New York stock exchanges under the ticker SJR.