Shaw reports higher first quarter profit, revenue

CALGARY – Shaw Communications posted stronger quarterly financial results Tuesday and said its dividend will go up eight per cent.

The Calgary-based cable and media company announced the dividend increase, ahead of its annual shareholders meeting and after issuing first-quarter results.

Revenue for the first quarter came in at $1.36 billion, up by more than 3% in all three of Shaw’s divisions, including cable, satellite and media.

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CEO Brad Shaw says the company will continue to build its internet business, including Wi-Fi.

“The market is changing, and it’s quite dynamic, so we’re continuing to make sure we’re addressing that market with the right products and services and making those investments to have those products.”

Shaw was recently awarded a contract to provide free Wi-Fi at all City of Calgary public facilities.

-with files from Canadian Press