Shoe Carnival, Inc. (SCVL) to Issue Quarterly Dividend of $0.15 on April 21st

Shoe Carnival, Inc. (NASDAQ:SCVL) announced a quarterly dividend on Wednesday, March 12th, RTT News reports. Investors of record on Monday, April 7th will be paid a dividend of 0.15 per share on Monday, April 21st. This represents a $0.60 annualized dividend and a yield of 3.01%. The ex-dividend date of this dividend is Monday, April 7th. This is a 11.1% increase from Shoe Carnival’s previous quarterly dividend of $0.14.

Shoe Carnival has increased its dividend by an average of 24.5% per year over the last three years and has raised its dividend annually for the last 14 consecutive years. Shoe Carnival has a dividend payout ratio of 28.4% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Shoe Carnival to earn $2.93 per share next year, which means the company should continue to be able to cover its $0.60 annual dividend with an expected future payout ratio of 20.5%.

Shoe Carnival Stock Performance

Shares of NASDAQ SCVL opened at $19.92 on Friday. The company’s 50 day moving average price is $23.38 and its 200-day moving average price is $31.61. Shoe Carnival has a 52-week low of $18.07 and a 52-week high of $46.92. The company has a market capitalization of $541.33 million, a P/E ratio of 7.32 and a beta of 1.35.

Shoe Carnival (NASDAQ:SCVL) last released its earnings results on Thursday, March 20th. The company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.12. Shoe Carnival had a net margin of 6.12% and a return on equity of 12.52%. The business had revenue of $262.90 million for the quarter, compared to analyst estimates of $277.89 million. During the same quarter in the previous year, the business earned $0.59 earnings per share. Shoe Carnival’s revenue for the quarter was down 6.2% on a year-over-year basis. Analysts forecast that Shoe Carnival will post 2.6 earnings per share for the current year.

Shoe Carnival declared that its board has initiated a share repurchase program on Thursday, December 12th that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the company to repurchase up to 5.2% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.

About Shoe Carnival

Shoe Carnival, Inc, together with its subsidiaries, operates as a family footwear retailer in the United States. The company offers range of dress, casual, work, and athletic shoes, as well as sandals and boots for men, women, and children; and various accessories. The company also operates stores, and sells its products through online shopping at shoecarnival.com, as well as through mobile app.