shaw communications inc-b (SJR) Key Developments
Shaw Communications, Inc. Realigns Customer Service Operations to Enhance Customer Care
Feb 11 15
Shaw Communications Inc. announced a realignment of its customer care operations in its Consumer division to better serve customers more effectively and efficiently. Following an extensive year-long review of its operations, Shaw's customer care operations will be reorganized over the next 11 months around centres of expertise that will allow Shaw to continue to provide customers with the best and most consistent service possible. All of Shaw's customer care operations continue to be located in Canada. Shaw's customer care operations will be realigned in Victoria, Vancouver, Winnipeg and Montreal around the centres of expertise, which include technical service, sales and billing, loyalty care, technical field support, e-Care, payment solutions and satellite operations. About 1,600 employees in Shaw's customer care operations in Calgary, Edmonton and Kelowna will be offered the choice of: relocating to one of Shaw's expanding contact centres, with the assistance of a package of $7,500 to help them move, the opportunity to take on new roles in their current location, or a generous severance package well in excess of the statutory requirements that recognizes their tenure and contributions to the company. All of the customer care roles will be relocated to Shaw's operations in Victoria, Vancouver, Winnipeg, and Montreal in the next year. As part of the moves, Shaw's Edmonton contact centre operations and part of its Kelowna operations will be closed in June, and its Calgary contact centre operations will be closed in January 2016. Shaw will also be consolidating six of its retail stores into neighbouring locations.
Shaw Communications, Inc. Announces Executive Changes
Jan 22 15
Shaw Communications Inc. announced the following changes to senior leadership team: Arnaud Robert is appointed Senior Vice President, Technology Strategy, Shaw Communications Inc. with accountability for establishing Shaw's technical vision and strategy and determining how current and future technology can be best leveraged to achieve the company's business goals. Mr. Robert will also be accountable for leading the development of strategic partnerships and overseeing the governance of long term technology risk management. Mr. Robert has 15 years of experience in technology and digital strategy in senior leadership roles across various industries in North America. Mr. Robert brings his expertise as a digital strategist, innovator and technology leader. Christine Shipton is appointed Senior Vice President, Content, Shaw Media with oversight over the creation of Canadian original productions, acquisition of top US and international series, and scheduling for the company's conventional television network, Global Television, and 19 specialty channels. Ms. Shipton is accountable for ensuring Shaw is strategically evolving its content platforms and windowing rights amidst the ever-evolving media landscape, as well as forging key strategic partnerships to support the company's growing roster of large, international co-productions. Ms. Shipton is a seasoned executive with more than 34 years of experience in the media and production industry. Ms. Shipton joined Canwest (now Shaw Media) in 2005 and has held a variety of senior positions in both broadcast and production organizations including her most recent role as Vice President, Original Content for Shaw Media.
Shaw Communications, Inc. Elects Paul Pew as Lead Director, Chair of the Corporate Governance and Nominating Committee
Jan 14 15
Shaw Communications Inc. announced that at its annual general meeting held on January 14, 2015. At the meeting, the company announced the appointment of Paul Pew as Lead Director. Paul Pew has been a member of Shaw's board since 2008 and has served as Chair of the Audit Committee from 2009 until this year. He also becomes Chair of the Corporate Governance and Nominating Committee. He is Co-Founder and Co-Chief Executive Officer of G3 Capital Corp.
Shaw Communications, Inc. Declares the Quarterly Dividend on Cumulative Redeemable Rate Reset Preferred Shares, Series A for the Three-Month Period Ended March 31, 2015, Payable on March 31, 2015
Jan 14 15
Shaw Communications Inc. announced that its Board of Directors has declared the quarterly dividend on its Cumulative Redeemable Rate Reset Preferred Shares, Series A for the three-month period ended March 31, 2015. The dividend of $0.28125 per Series A Share will be payable on March 31, 2015 to holders of record at the close of business on March 13, 2015.
Shaw Communications, Inc. Reports Un-Audited Consolidated Earnings Results for the First Quarter Ended November 30, 2014; Provides Earnings Guidance for the Year 2015
Jan 14 15
Shaw Communications, Inc. reported un-audited consolidated earnings results for the first quarter ended November 30, 2014. For the quarter, the company reported revenue was CAD 1,389 million compared with CAD 1,362 million a year ago. Operating income was CAD 386 million compared with CAD 414 million a year ago. Income before income taxes was CAD 293 million compared with CAD 340 million a year ago. Net income attributable to equity shareholders was CAD 219 million compared with CAD 236 million a year ago. Basic and diluted earnings per share were CAD 0.46 compared with CAD 0.51 a year ago. Fund flow from operating activities was CAD 392 million compared with CAD 382 million a year ago. The improvement was primarily due to lower capital investment in the current quarter. Additions to property, plant and equipment was CAD 221 million compared with CAD 273 million a year ago. Additions to equipment cost was CAD 19 million against CAD 25 million a year ago. Additions to other intangibles was CAD 23 million against CAD 19 million a year ago. Consolidated operating income before amortization of CAD 606 million compared to CAD 608 million last year. The impact of the declines in Consumer and Media driven by the lower Revenue was primarily offset by the growth in Business Network Services and the addition of Business Infrastructure Services with the acquisition of ViaWest.
The company provided earnings guidance for the year 2015. the company expects consolidated operating income before restructuring costs and amortization growth to range from 5% to 7% with the inclusion of ViaWest which is expected to contribute approximately CAD 85 million. Increased capital investment (excluding amounts funded through the accelerated capital fund) is anticipated as the company continues to enhance its network, provide innovative product offerings and expand the ViaWest footprint. Combined with higher interest related to the ViaWest acquisition and increased cash taxes, free cash flow is expected to exceed CAD 650 million.