Forward-looking statements are based on assumptions and analyses made by the Company in light of its experience and its perception of historical trends, current conditions and expected future developments as well as other factors it believes are appropriate in the circumstances as of the current date. The current quarter includes a Consumer Internet RGU loss of approximately 5,100 due to lower new customer activity and promotions primarily related to COVID-19.
In the third quarter, Freedom Mobile experienced a net Wireless RGU loss of approximately 5,500 – 2,200 additional postpaid customers and 7,700 lost prepaid customers – while maintaining its wireless subscriber base at almost 1.8 million customers. Analysts predict that Shaw Communications Inc (NYSE:SJR) (TSE:SJR.B) will report earnings of $0.25 per share for the current quarter, according to Zacks. On October 24, 2019, in accordance with the terms of our Dividend Reinvestment Plan (the “DRIP”), the Company announced that in lieu of issuing shares from treasury, it will satisfy its share delivery obligations under the DRIP by purchasing Class B Non-Voting Shares on the open market. Learn about financial terms, types of investments, trading strategies and more. Legislative Changes and Other Government Actions. Although the BTLR was initiated and the BTLR Panel was instituted by the Federal Government, the BTLR Panel was independent of the Federal Government and its recommendations may or may not be reflected in any legislative reform undertaken pursuant to the Ministerial mandates. Please refer to “Non-IFRS and additional GAAP measures” in this MD&A for a discussion and reconciliation of non-IFRS financial measures including adjusted EBITDA, adjusted EBITDA margin, free cash flow and the net debt leverage ratio.
Payments relating to purchase options and renewal option periods that are reasonably certain to be exercised, or periods subject to termination options that are not reasonably certain to be exercised. By borrowing in US dollars, the Company may access lower interest rates. the expected impact of the ongoing commodity price challenges and the COVID-19 pandemic. The application of IFRS 16 requires the Company to make judgments that affect the valuation of the lease liabilities and the valuation of right-of-use assets. Caution concerning forward-looking statements. Accumulated other comprehensive loss decreased $35 million due to the re-measurement recorded on employee benefit plans. Please check your download folder. Adjusted per-share earnings are down 18.6% from 43 cents during the same time last year. Other recommendations may benefit the Company, including increased CRTC oversight of access to provincial and municipal support structure and passive infrastructure. In order to address the health and safety of its employees returning to work, the Company has put in place many new protocols, including enhanced cleaning measures, sanitization stations and daily health and wellness self-assessments. We called into action our robust business continuity plan in the early stages of this crisis to restrict business travel, enable a significant portion of our employee base to work from the safety of their own homes and temporarily close retail locations nationally (with the exception of a limited number of street front stores that remain open to provide urgent customer support). Effective September 1, 2019, the Company adopted IFRS 16 and IFRIC 23 and has not restated comparatives for fiscal 2019. While the financial performance of the Wireless segment was strong in the third quarter, showcasing the operating leverage in the business, the Company’s strategy remains to scale the wireless business and continue to grow the subscriber base. As approved by the TSX, the Company has the ability to purchase for cancellation up to 24,758,127 Class B Non-Voting Shares representing 5% of all of the issued and outstanding Class B Non-Voting Shares as at October 18, 2019. Through significant investments and a strong technology roadmap, the Company is well positioned to meet the increasing expectations of its customers as they continue to embrace digital adoption and faster Internet speeds. Throughout this challenging and unprecedented time, we are proud of the strength of our facilities-based networks, which are not just the core of our digital infrastructure – they are the backbone of our social and economic well-being. If you use our chart images on your site or blog, we ask that you provide attribution via a "dofollow" link back to this page. Shaw used its free cash flow along with cash of $1.4 billion, $160 million net proceeds from its accounts receivable securitization program, $50 million in cash draws under its credit facility, and proceeds from the issuance of Class B Non-Voting Shares of $6 million to fund the net working capital change of $115 million, pay common share dividends of $426 million, repay at maturity $1.25 billion 5.65% senior notes, repurchase $140 million in shares under the Company’s NCIB program, and pay $138 million in restructuring costs. The Company presents right-of-use assets in Property, plant and equipment. The configuration that is mandated for disaggregated wholesale HSA services could require significant and costly modifications to the Company’s broadband network architecture. Periods covered by options to terminate the lease, where the Company is reasonably certain not to exercise the option. Third quarter adjusted EBITDA includes an increase in the bad debt provision of approximately $5 million, reflecting the uncertainty associated with elevated unemployment levels and Business customer impacts. All rights reserved. CALGARY, Alberta, July 10, 2020 (GLOBE NEWSWIRE) -- Shaw Communications Inc. (“Shaw” or the “Company”) announces consolidated financial and operating results for the quarter ended May 31, 2020, including the impact of adopting IFRS 16, Leases (IFRS 16). With respect to the Broadcasting Act, the BTLR Panel recommended maintaining the existing 5% levy on the broadcast distribution undertakings’, or BDUs’, revenues to support the production of Canadian content, while introducing an expanded regulatory regime, in which, inter alia, new categories of online digital media offerings would become subject to regulatory obligations and Canadian contribution requirements. © 2020 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions. The buyer of the trade receivable has no claim on any of our other assets. These are non-IFRS measures. Throughout our digital transformation we have made it easier to interact with our customers and to self-install our services – essential during this period of social distancing and stay at home restrictions. The unaudited interim consolidated financial statements of the Company for the three and nine months ended May 31, 2020 were authorized for issue by the Board of Directors on July 10, 2020. In March 2020, the World Health Organization (WHO) declared COVID-19 a pandemic. The following is a list of the significant regulatory developments since that date. Operating Cash Flow, for the purposes of the covenants, is calculated as net earnings before interest expense, depreciation, amortization, restructuring, and current and deferred income taxes, excluding profit or loss from investments accounted for on an equity basis, less payments made with regards to lease liabilities for the most recently completed fiscal quarter multiplied by four, plus cash dividends and other cash distributions received in the most recently completed four fiscal quarters from investments accounted for on an equity basis. A total of, During fiscal 2020, the Company restructured certain operations within the Wireline segment and announced a realignment of the senior leadership team. Parallel Advisors LLC raised its stake in shares of Shaw Communications by 19.9% during the 2nd quarter. Personal Information Protection and Electronic Documents Act (“PIPEDA”) and Canadian Anti-Spam Legislation (“CASL”). “introduce legislation by the end of 2020 that will take appropriate measures to ensure that all content providers, including internet giants, offer meaningful levels of Canadian content in their catalogues, contribute to the creation of Canadian content in both Official Languages, promote this content and make it easily accessible on their platforms.”. Our customers can also continue to order Freedom Mobile services from select dealer locations and national retail partners by phone or through on-line platforms.


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