Shoe Carnival Declares Quarterly Cash Dividend

Rhea-AI Summary

Shoe Carnival, Inc. (NASDAQ: SCVL) announced a quarterly cash dividend of $0.09 per share, payable on October 18, 2022, to shareholders on record as of October 4, 2022. This decision comes after reporting strong quarterly earnings, with cash and investments exceeding $100 million and no long-term debt. CEO Mark Worden emphasized the Board's commitment to enhancing shareholder returns through dividends, subject to future approvals based on the company's financial outlook.

Positive

• Quarterly cash dividend of $0.09 per share enhances shareholder returns.
• Strong quarterly earnings reported with cash and investments over $100 million.
• No long-term debt, indicating a strong financial position.

Negative

• None.

Company to Pay Quarterly Cash Dividend of $0.09 Per Share

EVANSVILLE, Ind.--(BUSINESS WIRE)-- Shoe Carnival, Inc. (Nasdaq: SCVL) (the “Company”), a leading retailer of footwear and accessories for the family, announced today that its Board of Directors has approved the payment of a quarterly cash dividend.

The quarterly cash dividend of $0.09 per share will be paid on October 18, 2022, to shareholders of record as of the close of business on October 4, 2022.

“With strong quarterly earnings by the Company, cash and investments in excess of $100 million and no long-term debt, our Board of Directors continues to enhance shareholder returns with authorization of our quarterly dividend,” commented Mark Worden, Shoe Carnival’s President and Chief Executive Officer.

Future declarations of dividends are subject to approval of the Board of Directors and will depend on the Company’s results of operations, financial condition, business conditions and other factors deemed relevant by the Board of Directors.

About Shoe Carnival

Shoe Carnival, Inc. is one of the nation’s largest family footwear retailers, offering a broad assortment of dress, casual and athletic footwear for men, women and children with emphasis on national name brands. As of September 23, 2022, the Company operates 395 stores in 35 states and Puerto Rico under its Shoe Carnival and Shoe Station banners and offers shopping at www.shoecarnival.com. Headquartered in Evansville, IN, Shoe Carnival, Inc. trades on The Nasdaq Stock Market LLC under the symbol SCVL. Press releases and annual report are available on the Company's website at www.shoecarnival.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220923005101/en/

W. Kerry Jackson

Shoe Carnival Investor Relations

(812) 867-4034

Source: Shoe Carnival, Inc.

FAQ

What is the dividend amount for Shoe Carnival (SCVL)?

Shoe Carnival (SCVL) has declared a quarterly cash dividend of $0.09 per share.

When will the dividend for SCVL be paid?

The dividend will be paid on October 18, 2022.

What date do I need to own SCVL shares to receive the dividend?

You must own SCVL shares by the close of business on October 4, 2022.

Is the dividend from Shoe Carnival (SCVL) sustainable?

Future dividends are subject to Board approval and depend on the company's financial conditions.