Shoe Carnival Increases Quarterly Cash Dividend

March 14, 2024

DENVER, Colo., Mar 14, 2024 (247marketnews.com)- Shoe Carnival, Inc. (NASDAQ:SCVL) stated that its Board of Directors approved a 12.5% increase in its quarterly cash dividend to $0.135 per share, which increases its annualized dividend rate to $0.54 per share.

Shareholders of record, as of the close of business on April 8, 2024, will be paid the quarterly cash dividend on April 22, 2024.

“This marks our 48th consecutive quarterly dividend and the 10th consecutive year we have increased the dividend. In the last twelve months, we have increased the quarterly dividend by 35 percent. Our growth strategy and profit transformation position us to continue generating strong cash flows and fund our operations without long-term debt. The Board’s decision to increase the quarterly dividend demonstrates our confidence in delivering growth and further enhancing shareholder returns,” commented Mark Worden, Shoe Carnival’s President and Chief Executive Officer.

SCVL closed yesterday’s trading at $31.99, up $0.70 (+2.24%), on 175K shares.

Robinhood’s 52-week range is $19.24 to $33.30.

If SCVL can break through the $34 April 2022 resistance, it should try to challenge the $36 level.

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