Press release
Shoe Carnival Declares Quarterly Cash Dividend and Announces New $50 Million Share Repurchase Program
Company to Pay Quarterly Cash Dividend of $0.135 Per Share EVANSVILLE, Ind.--(BUSINESS WIRE)-- Shoe Carnival, Inc. (Nasdaq: SCVL) (the “Company”), a leading
About this update from Shoe Carnival, Inc.
[{"type":"text","content":"\nCompany to Pay Quarterly Cash Dividend of $0.135 Per Share\n\n\n EVANSVILLE, Ind.--(BUSINESS WIRE)--\nShoe Carnival, Inc. (Nasdaq: SCVL) (the “Company”), a leading retailer of footwear and accessories for the family, announced today that its Board of Directors approved the payment of a quarterly cash dividend of $0.135 per share to be paid on January 27, 2025, to shareholders of record as of the close of business on January 13, 2025.\n\n\nAdditionally, its Board of Directors authorized a new share repurchase program for up to $50 million of its outstanding common stock, effective January 1, 2025. The new share repurchase program will replace an existing $50 million share repurchase program that was authorized on December 14, 2023, and will expire in accordance with its terms on December 31, 2024. Additional purchases may be made under the existing share repurchase program prior to its expiration.\n\n\n“This marks our 51st consecutive quarterly dividend and we continue to drive solid cash flow, funding our operations and growth strategies without debt. Our strong capital structure, liquidity management and profitability position us well to continue delivering enhanced shareholder value and pursuing our vision to be the nation’s leading family footwear retailer,” commented Mark Worden, Shoe Carnival’s President and Chief Executive Officer.\n\n\nPurchases under the new share repurchase program may be made in the open market or through privately negotiated transactions from time-to-time through December 31, 2025, and in accordance with applicable laws, rules and regulations. Repurchases may also be made pursuant to a Rule 10b5-1 plan, which, if adopted by the Company, would permit shares to be repurchased in accordance with pre-determined criteria when the Company might otherwise be prohibited from doing so under insider trading laws or because of self-imposed trading blackout periods. The share repurchase program may be amended, suspended or discontinued at any time and does not commit the Company to repurchase shares of its common stock. The Company intends to fund the share repurchase program from cash on hand and any shares acquired will be available for stock-based compensation awards and other corporate purposes.\n\n\nThe actual number and value of the shares to be purchased will depend on the performance of the Company’s st...