Shoe Carnival Declares Quarterly Cash Dividend, Announces New $50 Million Stock Buyback Program By Investing.com

The company will pay a quarterly cash dividend of $0.135 per share

EVANSVILLE, Ind.–( BUSINESS WIRE )– Shoe Carnival (NYSE:) (Nasdaq: SCVL) (the Company), a leading… Retailing shoes and family accessories, today announced the approval of its Board of Directors for this. A quarterly cash dividend of $0.135 per share will be paid on January 27, 2025 to shareholders of record as of the close of business on January 13, 2025.

In addition, its Board of Directors has authorized a new stock repurchase program for up to $50 million of its outstanding common stock, effective January 1, 2025. The new stock repurchase program will replace the existing $50 million stock repurchase program that has been authorized On December 14th. 2023, and will expire in accordance with its terms on December 31, 2024. Additional purchases may be made under the existing stock repurchase program prior to the date thereof. Expiry.

This marks our 51st consecutive quarterly dividend and we continue to drive strong cash flow and fund our operations and growth strategies without debt. Mark Worden commented: Shoe carnival (NASDAQ:) President and CEO.

Purchases under the New Share Repurchase Program may be made on 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 the repurchase of shares pursuant to predetermined criteria when the Company may be prohibited from doing so under insider trading laws or due to self-imposed trading blackout periods. The stock repurchase program may be modified, suspended or discontinued at any time and does not require the Company to repurchase shares of its common stock. The Company intends to fund the stock repurchase program from cash on hand and any shares acquired will be available for stock-based compensation awards and other corporate purposes.

The actual number of shares to be purchased and their value depends on the performance of the company’s share price and other market and economic factors.

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

About Shoe Carnival

Shoe Carnival, Inc. One of the nation’s largest family footwear retailers, offering a wide selection of casual and athletic apparel and footwear for men, women and children with an emphasis on national name brands. As of December 12, 2024, the company operates 431 stores in 36 states and Puerto Rico under the Shoe Carnival and Shoe Station banners and offers shopping at www.shoecarnival.com and www.shoestation.com. Shoe Carnival, Inc. is headquartered in Based in Evansville, Indiana, its shares trade on the Nasdaq Stock Market LLC under the symbol SCVL. Press releases and annual reports are available on the company’s website at www.shoecarnival.com.

Cautionary statement regarding forward-looking information

As used herein, we and we refer to Shoe Carnival, Inc. This press release contains forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, that involve a number of risks and uncertainties, such as statements about our future growth, operations, cash flows and shareholder returns, as well as our growth and dividend transformation strategy.

A number of factors could cause our actual results, performance or achievements or industry results to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. These factors include, but are not limited to: our ability to control costs and meet our labor needs in a rising wage, inflation and/or supply chain constrained environment; the impact of competition and pricing, including our ability to maintain current promotional intensity levels; The effects and duration of the economic downturn and unemployment rates; our ability to achieve expected operating results from our Shoe Station banner and planned growth, which includes the recently acquired stores and Rogan’s operations, within anticipated time frames, or at all; the potential impact of national and international security concerns, including those resulting from war and terrorism, on the retail environment; general economic conditions in the regions of the continental United States and Puerto Rico where our stores are located; changes in the retail environment generally and more specifically in the apparel and footwear retail sectors; our ability to successfully leverage the e-commerce sales channel and its impact on traffic and transactions in our physical stores; the success of the outdoor shopping centers in which many of our stores are located and their impact on our ability to attract customers to our stores; our ability to attract customers to our e-commerce platform and successfully grow our multi-channel sales; the effectiveness of our inventory management, including our ability to manage relationships with key merchandise vendors and direct-to-consumer initiatives; changes in our relationships with other key suppliers; changes in political and economic environments, the status of trade relations with China, and the impact of changes in trade policies and tariffs affecting China and other countries that are major footwear manufacturers; our ability to successfully manage and implement our marketing initiatives and maintain positive brand perception and recognition; our ability to successfully manage our existing real estate portfolio and leasing commitments; Changes in weather, including patterns affected by climate change; changes in consumer purchasing trends and our ability to identify and respond to emerging fashion trends; the impact of disruptions to our distribution or information technology operations, including our distribution center located in Evansville, Indiana; the impact of natural disasters, public health, political crises, civil unrest, and other catastrophic events on our operations and those of our suppliers, as well as on consumer confidence and purchasing generally; The duration and spread of the public health crisis and mitigation efforts, including the effects of government stimulus on consumer spending; risks associated with the seasonality of the retail industry; the impact of unauthorized disclosure or misuse of personal and confidential information relating to our customers, suppliers and employees, including as a result of a cybersecurity breach; our ability to effectively integrate Rogan’s, retain Rogan’s employees, and achieve expected operating results, synergies, efficiencies and other benefits from the Rogan acquisition within expected time frames, or at all; risks that could disrupt our current plans and operations or negatively impact our relationship with our vendors and other suppliers; Our ability to successfully implement our business strategy, including the availability of desired store locations on acceptable lease terms, our ability to effectively identify, complete or integrate future acquisitions, our ability to implement and adapt to new technology and systems, and our ability to open new stores in a timely and appropriate manner. Profitability, including our entry into major new markets, and the availability of sufficient funds to implement our business plans; higher than expected costs associated with the closure of underperforming stores; inability of manufacturers to deliver products in a timely manner; Increase in the cost of or interruption of the flow of imported goods; the impact of regulatory changes in the United States, including minimum wage laws and regulations, and the countries in which our manufacturers are located; resolve litigation or regulatory proceedings in which we are involved or in which we may become involved; Continued volatility and turmoil in the capital and credit markets; future stock repurchases under our stock repurchase program and future dividend payments; and other factors described in the Company’s filings with the Securities and Exchange Commission, including the Company’s most recent Annual Report on Form 10-K. In addition, these forward-looking statements are necessarily based on assumptions, estimates and dates that may be incorrect or inaccurate and involve known and unknown risks, uncertainties and other factors. Accordingly, any forward-looking statements included in this press release are not intended to be predictions of future events or conditions and may not be realized. Forward-looking statements can be identified by, among other things, the use of forward-looking terminology such as believes, expects, aims, is on track, may, will, should, seeks, pro forma, expects, intends or the negative of any of these terms, or similar, or through discussions of strategy or intentions. Given these uncertainties, we caution investors not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. We disclaim any obligation to update any of these factors or to publicly announce any revisions to the forward-looking statements contained in this news release to reflect future events or developments.

View source version on Businesswire.com: https://www.businesswire.com/news/home/20241212014496/en/

Steve R. Alexander
Investor Relations at Shoe Carnival
(812) 867-4034

Source: Shaw Carnival, Inc.