Shaw Communications Inc. (Public, NYSE: SJR) Declares Monthly Dividends

(June 30, 2010)

Calgary, Alberta - Shaw Communications Inc., one of Canada's largest Cable television, Internet & Digital Phone providers announced today that its Board of Directors have approved monthly dividends of $0.073333 on Shaw's Class B Non-Voting Participating Shares and $0.073125 on Shaw's Class A Participating Shares, payable on each of September 29, 2010, October 28, 2010 and November 29, 2010 to all holders of record at the close of business September 15, 2010, October 15, 2010 and November 15, 2010, respectively.

The company reported the following financial results for its fiscal third quarter, June 30, 2010:

• Consolidated service revenue for the quarter and year-to-date periods of $944 million and $2.78 billion, respectively, was up 10% over each of the comparable periods last year. Total service operating income before amortization of $436 million and $1.34 billion, respectively, improved 10% and 17% over the same periods.
  
• Net income of $158 million or $0.37 per share for the quarter ended May 31, 2010 compared to
  $132 million or $0.31 per share for the same period last year. Net income for the first nine
  months of the year was $411 million or $0.95 per share compared to $412 million or $0.96 per
  share last year.
  
• Free cash flow for the quarter and year-to-date periods was $150.9 million and $445.8
  million, respectively, compared to $154.5 million and $406.9 million for the same
  periods last year.
  
• On November 16, 2009, Shaw received the approval of the TSX to renew its normal course
  issuer bid to purchase its Class B Non-Voting Shares for a further one year period. The
  Company is authorized to acquire up to 35,000,000 Class B Non-Voting Shares during the
  period November 19, 2009 to November 18, 2010. During the current year, the Company
  repurchased 6,100,000 Class B Non-Voting Shares for $118.1 million.
  
• In May 2010 Shaw announced that it had entered into agreements to acquire 100% of the
  Broadcasting business of Canwest Global Communications Corp. (“Canwest”) including all the
  equity interest in CW Investments Co. (“CW Media”), the company that owns the specialty
  channels acquired from Alliance Atlantis Communications Inc. in 2007 by Canwest and
  Goldman Sachs. The total consideration of approximately $2.0 billion includes approximately
  $815 million of net debt at CW Media. Certain portions of the acquisition were completed in
  May and Shaw funded $743 million, including transaction costs, with cash on hand. It is
  anticipated the outstanding portions of the acquisition will close early in fiscal 2011 upon receipt of all necessary approvals, including Canwest creditor, Court, CRTC, and the Competition Bureau.

Dividend Payment Schedule

i) SJR.B (Class B Non-Voting Participating Shares)

ii) SJR.A (Class A Participating Shares)

Record Date	Dividend Payment Date	Dividend per Share
15-Aug-10	30-Aug-10	$0.07313
15-Jul-10	29-Jul-10	$0.07313
15-Jun-10	29-Jun-10	$0.07313
15-May-10	28-May-10	$0.07313
15-Apr-10	29-Apr-10	$0.07313
15-Mar-10	30-Mar-10	$0.07313
Feb. 15, 2010	Feb. 25, 2010	$0.06979
Jan. 15, 2010	Jan. 28, 2010	$0.06979
Dec. 15, 2009	Dec. 30, 2009	$0.06979
Nov. 15, 2009	Nov. 27, 2009	$0.06979
Oct. 15, 2009	Oct. 29, 2009	$0.06979
Sept. 15, 2009	Sept. 29, 2009	$0.06979
Aug. 15, 2009	Aug. 28, 2009	$0.06979
15-Jul-09	30-Jul-09	$0.06979
15-Jun-09	29-Jun-09	$0.06979
15-May-09	28-May-09	$0.06979
15-Apr-09	29-Apr-09	$0.06979
15-Mar-09	30-Mar-09	$0.06979

 

About Shaw Communications Inc.

Shaw Communications Inc. (Shaw) is a diversified communications company whose core business is providing broadband cable television, Internet, digital phone, telecommunications services (through Shaw Business Solutions) and satellite direct-to-home services (DTH) (through Shaw Direct). The Company serves approximately 3.4 million customers. It operates in two segments: Cable and Satellite. During the fiscal year ended August 31, 2009 (fiscal 2009), the Cable segment generated 78% of Shaw’s consolidated revenues. During fiscal 2009, the Satellite segment generated 22% of its consolidated revenues. On February 1, 2009, the Company acquired Campbell River cable system in British Columbia, which serves approximately 12,000 basic subscribers. In October 2009, the Company acquired Mountain cable system in Hamilton, Ontario.

Company Website: http://www.shaw.ca