Shoe Carnival, Inc. (NASDAQ:SCVL) Raises Dividend to $0.15 Per Share

Shoe Carnival, Inc. (NASDAQ:SCVL) declared a quarterly dividend on Wednesday, March 12th, RTT News reports. Shareholders 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 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% annually over the last three years and has raised its dividend annually for the last 14 consecutive years. Shoe Carnival has a payout ratio of 28.4% meaning its dividend is sufficiently covered by earnings. 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 Up 3.5 %

NASDAQ SCVL opened at $19.92 on Friday. Shoe Carnival has a 52 week low of $18.07 and a 52 week high of $46.92. The business has a 50 day moving average price of $23.38 and a 200-day moving average price of $31.61. The company has a market cap of $541.33 million, a price-to-earnings ratio of 7.32 and a beta of 1.35.

Shoe Carnival (NASDAQ:SCVL) last released its quarterly earnings data on Thursday, March 20th. The company reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.12. The firm had revenue of $262.90 million for the quarter, compared to analyst estimates of $277.89 million. Shoe Carnival had a net margin of 6.12% and a return on equity of 12.52%. The business’s quarterly revenue was down 6.2% compared to the same quarter last year. During the same period last year, the firm earned $0.59 earnings per share. On average, equities research analysts anticipate that Shoe Carnival will post 2.6 earnings per share for the current year.

Shoe Carnival declared that its Board of Directors has initiated a stock buyback plan on Thursday, December 12th that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 5.2% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership 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.