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. 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 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% indicating that 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 $0.54 annual dividend with an expected future payout ratio of 18.4%.

Shoe Carnival Trading Up 2.4 %

Shares of SCVL traded up $0.52 during mid-day trading on Monday, reaching $22.37. The company’s stock had a trading volume of 402,463 shares, compared to its average volume of 317,948. Shoe Carnival has a 52 week low of $20.51 and a 52 week high of $46.92. The stock has a market cap of $607.90 million, a PE ratio of 8.22 and a beta of 1.50. The company’s fifty day moving average price is $25.90 and its two-hundred day moving average price is $33.41.

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 has initiated a stock repurchase program on Thursday, December 12th that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 5.2% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors 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.