Shaw 2014 Annual Report Download - page 6

Download and view the complete annual report

Please find page 6 of the 2014 Shaw annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 129

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129

Shaw Communications Inc.
REPORT TO SHAREHOLDERS
August 31, 2014
year rose to $698 million, an improvement of 15% over the prior year. In fiscal 2014, we also
increased our dividend by 8%, returning $485 million to shareholders.
During fiscal 2014 we continued to make the necessary capital investments, spending over $1
billion as we maintain, grow, and enhance our infrastructure, which includes one of North
America’s most extensive and advanced fibre networks.
Our capital structure and healthy liquidity position support investment grade ratings. We enter
2015 with solid cash flows and a strong balance sheet providing the financial flexibility to
capitalize on opportunities as they arise.
During fiscal 2014 we reorganized our management and implemented various initiatives
designed to improve our overall performance, enabling us to enhance efficiencies, standardize
best practices and drive accountability. We filled gaps in our leadership team with high caliber
talent from outside the Company, and most importantly, ended the year with a renewed
customer centric focus.
We are entering fiscal 2015 with a solid foundation across our business. We know that we
cannot afford to preserve the past. If we are to serve the growing and changing needs of our
customers and remain competitive with the proliferation of alternatives available, we need
products, services and solutions that look forward, that promote choice, and that go where the
consumer is going and not where that consumer has been. Whether it be on traditional linear TV
or new streaming technologies enabled by the Internet, Canadians want access to content
anytime they want, anywhere they are, and on the device that most suits their needs.
At Shaw, every decision we make, and every initiative we launch, is driven by customer choice
and the imperative to bring quality, reliability, innovation and value to the customer and viewer
experience.
OUR COMMUNITIES
We are proud to give back in the communities we serve. In fiscal 2014, Shaw contributed
approximately $60 million in cash and in-kind contributions to charitable and community
organizations working to make our neighbourhoods and cities better places for everyone.
We are also proud to be the founding title sponsor of the Shaw Charity Classic. In two short
years, this event has become the best on the Champions Tour showcasing golf’s greatest
players. This tournament has donated more than $4.5 million toward children’s charities in
Southern Alberta while giving thousands of people the chance to see world class golf in Calgary.
CONCLUSION AND OUTLOOK
The past year has been filled with change and opportunity for our business and our employees.
We expect nothing less as we look forward to fiscal 2015 and beyond.
The rapid changes in our industry have attracted the attention of regulators and policymakers in
Canada, and we are pleased to continue to work with them to identify and develop policies that
are in the best interests of Canadians. We appreciate the opportunity to participate in a variety
of forums, including the Let’s Talk TV proceedings launched by the Canadian Radio-television
and Telecommunications Commission, to provide our views and to emphasize our commitment
to our customers and viewers.
2