Shaw Communications calls two series of its class 2 preferred shares

By Rebecca Melvin

Concord, N.H., May 28 – Shaw Communications Inc. plans to redeem its issued and outstanding cumulative redeemable rate reset class 2 preferred shares, series A, and cumulative redeemable floating-rate class 2 preferred shares, series B, on June 30, according to a company news release.

The company will pay C$25 per preferred share, less any tax required to be deducted or withheld. The aggregate redemption price payable by Shaw to redeem the shares will be C$300 million.

The company’s board of directors declared a dividend of C$0.17444 per series A share and C$0.12956 per series B share on April 14, with each payable on June 30 to holders of record on June 15.

These will be the final dividends on the preferreds. Upon payment, there will be no accrued and unpaid dividends on the preferred shares as at the redemption date.

The company’s transfer agent for the preferred shares is AST Trust Co. (Canada) (800 387-0825).

There are currently 10,012,393 series A shares and 1,987,607 series B shares issued and outstanding. They are listed on the Toronto Stock Exchange under the ticker symbols “SJR.PR.A” and “SJR.PR.B,” respectively.

Shaw Communications is a Calgary, Alta.-based diversified communications company.

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