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

Shoe Carnival, Inc. (NASDAQ:SCVL - Get Free Report) announced a quarterly dividend on Wednesday, March 12th, RTT News reports. Stockholders 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 dividend yield of 2.76%. 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% annually over the last three years and has increased its dividend annually for the last 13 consecutive years. Shoe Carnival has a dividend payout ratio of 17.3% indicating that its dividend is sufficiently covered by earnings. 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 Down 3.0 %

Shares of NASDAQ SCVL traded down $0.68 on Friday, hitting $21.76. The company had a trading volume of 254,256 shares, compared to its average volume of 324,691. Shoe Carnival has a 12-month low of $20.51 and a 12-month high of $46.92. The business has a 50 day moving average of $25.25 and a two-hundred day moving average of $33.01. The firm has a market capitalization of $591.27 million, a P/E ratio of 7.99 and a beta of 1.51.

Shoe Carnival (NASDAQ:SCVL - Get Free Report) last issued its earnings results on Thursday, March 20th. The company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.12. The company had revenue of $262.90 million during the quarter, compared to the consensus estimate of $277.89 million. Shoe Carnival had a return on equity of 12.52% and a net margin of 6.12%. The company's revenue was down 6.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.59 earnings per share. On average, sell-side analysts anticipate that Shoe Carnival will post 2.6 earnings per share for the current year.

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Analysts Set New Price Targets

Separately, StockNews.com raised 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 approved a share repurchase plan on Thursday, December 12th that allows the company to repurchase $50.00 million in shares. This repurchase authorization allows the company to reacquire up to 5.2% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's board believes its stock is 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.