Shaw 2012 Annual Report Download - page 104

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Shaw Communications Inc.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
August 31, 2012 and 2011
[all amounts in millions of Canadian dollars except share and per share amounts]
Preferred share dividends
Holders of the Series A Preferred Shares are entitled to receive, as and when declared by the
Company’s Board of Directors, a cumulative quarterly fixed dividend yielding 4.50% annually for
the initial period ending June 30, 2016. Thereafter, the dividend rate will be reset every five years
at a rate equal to the then current 5-year Government of Canada bond yield plus 2.00%. Holders
of Series A Preferred Shares will have the right, at their option, to convert their shares into
Cumulative Redeemable Floating Rate Preferred Shares, Series B (the “Series B Preferred
Shares”), subject to certain conditions, on June 30, 2016 and on June 30 every five years
thereafter. The Series B Preferred Shares also represent a series of Class 2 preferred shares and
holders will be entitled to receive cumulative quarterly dividends, as and when declared by the
Company’s Board of Directors, at a rate set quarterly equal to the then current three-month
Government of Canada Treasury Bill yield plus 2.00%.
Dividend reinvestment plan
The Company has a Dividend Reinvestment Plan (“DRIP”) that allows holders of Class A Shares
and Class B Non-Voting Shares who are residents of Canada to automatically reinvest monthly
cash dividends to acquire additional Class B Non-Voting Shares. During 2011 the Company
announced that the Class B Non-Voting Shares distributed under its DRIP would be new shares
issued from treasury at a 2% discount from the 5 day weighted average market price immediately
preceding the applicable dividend payment date. Previously, the Class B Non-Voting Shares were
acquired on the open market at prevailing market prices. The change was effective for the
May 30, 2011 dividend payment.
Dividends declared
The dividends per share recognized as distributions to common shareholders for dividends
declared during the year ended August 31, 2012 and 2011 are as follows:
2012 2011
Class A Voting Share Class B Non-Voting Share Class A Voting Share Class B Non-Voting Share
0.9550 0.9575 0.9075 0.9100
The Preferred Shares were issued on May 31, 2011. On June 29, 2011, the Company declared
dividends of $0.37603 per Preferred Share. The total amount payable was $4 of which $1 was
not recognized as at August 31, 2011. The dividend payment was made on September 30, 2011.
On October 20, 2011, January 12, 2012 and April 13, 2012, the Company declared dividends of
$0.28125 per Preferred Share. The dividend payments were made on January 3, 2012, April 2,
2012 and July 3, 2012, respectively.
On June 28, 2012, the Company declared dividends of $0.28125 per Preferred Share which
were paid on October 1, 2012. The total amount paid was $3 of which $1 was not recognized as
at August 31, 2012.
On October 25, 2012, the Company declared dividends of $0.080625 per Class A Voting Share
and $0.080833 per Class B Non-Voting Share payable on each of December 28, 2012,
January 30, 2013 and February 27, 2013 to shareholders of record at the close of business on
December 14, 2012, January 15, 2013 and February 15, 2013, respectively.
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