Under the modified retrospective approach, fiscal 2019 results have not been restated and are not comparable to fiscal 2020 results. The current portion of contract assets increased over the period mainly due to an increase in Wireless subscribers participating in the Company’s discretionary wireless handset discount program. For more information, please visit www.shaw.ca. Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter. The Company uses this ratio to determine its optimal leverage ratio. These estimates are subjective in nature and involve uncertainties and matters of significant judgment and, therefore, cannot be determined with precision. The MD&A included in the Company’s August 31, 2019 Annual Report outlined critical accounting policies, including key estimates and assumptions that management has made under these policies, and how they affect the amounts reported in the Consolidated Financial Statements. As an ongoing risk, the duration and impact of the COVID-19 pandemic is still unknown at this time, as is the efficacy and duration of the government interventions. 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. A total of, During fiscal 2020, the Company restructured certain operations within the Wireline segment and announced a realignment of the senior leadership team. As retail locations are able to resume operations, substantially all of Freedom Mobile’s retail stores are now open for business as of June 30, 2020. The severity and duration of impacts from the COVID-19 pandemic remain uncertain and management continues to focus on the safety of our people, most of whom continue to work from home, connectivity of our customer base, compliance with guidelines and requirements issued by various health authorities and government organizations, and continuity of other critical business operations. Wireline RGUs decreased by 55,293 compared to a 35,171 RGU loss in the third quarter of fiscal 2019. In connection with the restructuring, the Company recorded costs of $14 million, primarily related to severance and employee related costs. The fair value of finance lease obligations is determined by discounting future cash flows using a rate for loans with similar terms, conditions and maturity dates. Considering the ongoing presence of COVID-19, the speed at which it develops and/or changes, and the continued uncertainty of the magnitude, outcome and duration of the pandemic, compounded by the commodity price challenges, the current estimates of our operational and financial results which underlie our outlook for fiscal 2020 are subject to a significantly higher degree of uncertainty. The changes in net income are outlined in the following table: During the third quarter of fiscal 2020, the Company restructured certain operations within the Wireline segment and announced a realignment of the senior leadership team. As at May 31, 2020, Shaw is in compliance with these covenants and based on current business plans, the Company is not aware of any condition or event that would give rise to non-compliance with the covenants over the life of the borrowings which currently mature in December of 2024. On December 9, 2019, the Company issued $800 million of senior notes, comprised of $500 million principal amount of 3.30% senior notes due 2029 and $300 million principal amount of 4.25% senior notes due 2049. Shaw is traded on the Toronto and New York stock exchanges and is included in the S&P/TSX 60 Index (Symbol: TSX – SJR.B, SJR.PR.A, SJR.PR.B, NYSE – SJR, and TSXV – SJR.A). These financial measures do not have standard definitions prescribed by IFRS and therefore may not be comparable to similar measures disclosed by other companies. Shaw Communications reported earnings per share of $0.24 in the same quarter last year, which would suggest a positive year over year growth rate of 4.2%. In the third quarter of fiscal 2020, approximately 190 employees exited the Company, bringing the total number of employees who have departed under the VDP to approximately 3,140 employees or 100% of the eligible employees that accepted the VDP package. The Company generates approximately one-third of its Consumer Wireline segment revenue from Alberta. Revenue fell 5.0% compared to the same quarter a year ago.Shaw Communications Inc is a diversified communications & media Our focus remains on the execution and delivery of stable and profitable Wireline results. Relyea Zuckerberg Hanson LLC Raises Position in Amazon.com, Inc. IBM Retirement Fund Buys 3,047 Shares of CBRE Group, Inc. IBM Retirement Fund Increases Stock Holdings in Cooper Companies Inc. Therefore, as retail locations continue to re-open, and Canadians begin to revisit their wireless needs, the Company will continue to make the appropriate investments to balance subscriber growth and profitability. Wireless ARPU is calculated as service revenue divided by the average number of subscribers on the network during the period and is expressed as a rate per month. the suspension or cancellation of Business customer accounts. See “Known Events, Trends, Risks and Uncertainties – Interest Rates, Foreign Exchange Rates and Capital Markets” in the Company’s MD&A for the year ended August 31, 2019 and the section entitled “Financial Instruments” under Note 30 of the Consolidated Financial Statements of the Company for the year ended August 31, 2019. Now, more than ever, Canadians and businesses alike, are depending on reliable connectivity services to remain in touch with family, friends, colleagues and customers. Aviva PLC now owns 158,285 shares of the company’s stock valued at $2,550,000 after buying an additional 746 shares during the last quarter. (ii) Investments and other assets and other long-term assets. In the third quarter of fiscal 2020, Wireline RGUs decreased by 55,293 compared to a 35,171 RGU loss in the third quarter of fiscal 2019. For more information, please contact:Shaw Investor Relations [email protected], MANAGEMENT’S DISCUSSION AND ANALYSISFor the three and nine months ended May 31, 2020. The following is a discussion of significant changes in the consolidated statement of financial position since September 1, 2019. quotes delayed at least 15 minutes, all others at least 20 minutes. Personal Information Protection and Electronic Documents Act (“PIPEDA”) and Canadian Anti-Spam Legislation (“CASL”).
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