EVANSVILLE, Ind. - Shoe Carnival , Inc. (NASDAQ:SCVL), a prominent family footwear retailer, has declared a 12.5% increase in its quarterly cash dividend to $0.135 per share. This adjustment raises the annualized dividend rate to $0.54 per share. Shareholders on record as of April 8, 2024, will be eligible for the dividend payment scheduled for April 22, 2024.
This announcement marks the company's 48th successive quarterly dividend and the tenth year in a row of dividend increases. Over the past year, the dividend has seen a cumulative rise of 35%. "Our growth strategy and profit transformation position us to continue generating strong cash flows and fund our operations without long-term debt," stated Mark Worden, President and CEO of Shoe Carnival (NYSE:CCL). He also noted that the board's decision reflects their confidence in the company's continued growth and commitment to enhancing shareholder returns.
Shoe Carnival operates 429 stores across 36 states and Puerto Rico, with a focus on branded footwear for families. The company's shares are traded on The Nasdaq Stock Market under the ticker SCVL.
This article is based on a press release statement from Shoe Carnival, Inc.
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