Shoe Carnival, Inc. (NASDAQ:SCVL) Plans Quarterly Dividend of $0.15

Shoe Carnival, Inc. (NASDAQ:SCVL) announced a quarterly dividend on Monday, March 17th, RTT News reports. Stockholders of record on Monday, April 7th will be given a dividend of 0.15 per share on Monday, April 21st. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.68%. This is a 11.1% increase from Shoe Carnival’s previous quarterly dividend of $0.14.

Shoe Carnival has raised its dividend payment by an average of 24.5% per year over the last three years and has raised its dividend every year for the last 13 years. Shoe Carnival has a dividend payout ratio of 17.3% 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 $0.54 annual dividend with an expected future payout ratio of 18.4%.

Shoe Carnival Stock Performance

Shares of SCVL traded up $0.52 during trading hours on Monday, hitting $22.37. The company had a trading volume of 402,463 shares, compared to its average volume of 317,948. The stock has a market capitalization of $607.90 million, a price-to-earnings ratio of 8.22 and a beta of 1.50. The firm has a fifty day moving average price of $25.90 and a 200-day moving average price of $33.41. Shoe Carnival has a 52-week low of $20.51 and a 52-week high of $46.92.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of Shoe Carnival from a “sell” rating to a “hold” rating in a report on Saturday, November 30th.

Shoe Carnival declared that its Board of Directors has initiated a stock repurchase program on Thursday, December 12th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the company to purchase up to 5.2% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

Shoe Carnival Company Profile

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.