EVANSVILLE, Ind. - Shoe Carnival , Inc. (NASDAQ:SCVL), a significant player in the family footwear retail market, has declared a quarterly cash dividend of $0.135 per share. The dividend is payable on July 22, 2024, to shareholders on record as of July 8, 2024. This announcement marks the 49th consecutive quarterly dividend for the company.
Mark Worden, President and CEO of Shoe Carnival (NYSE:CCL), noted the company's consistent cash flow and debt-free status as foundations for the ongoing return to shareholders. He emphasized the company's solid capital and liquidity management, which he believes positions Shoe Carnival to further increase shareholder value, pursue growth strategies, and fulfill its ambition to become the nation's top family footwear retailer.
The company's future dividend declarations will be subject to the Board of Directors' approval and will hinge on various factors, including Shoe Carnival's operational results, financial health, and business conditions.
Shoe Carnival operates 430 stores across 36 states and Puerto Rico and maintains an online presence through its websites. The company, headquartered in Evansville, Indiana, is publicly traded on The Nasdaq Stock Market under the ticker SCVL.
InvestingPro Insights
With Shoe Carnival's recent announcement of its 49th consecutive quarterly dividend, the company's financial health continues to be a point of discussion among investors. According to InvestingPro data, Shoe Carnival boasts a market capitalization of 1000M USD, which reflects its standing in the family footwear retail market. The company's P/E ratio as of the last twelve months is 13.33, which may indicate a reasonable valuation in comparison to earnings.
Of particular interest to shareholders, Shoe Carnival has a track record of dividend reliability, having raised its dividend for 10 consecutive years and maintained dividend payments for 13 consecutive years. This consistency aligns with the CEO's emphasis on capital and liquidity management and supports the company's aim to increase shareholder value. Moreover, the company's dividend yield stood at 1.42% as of the previous year, coupled with a notable dividend growth of 35.0% in the last twelve months, highlighting its commitment to returning value to its shareholders.
InvestingPro Tips reveal that analysts predict the company will be profitable this year, which is corroborated by the profitability Shoe Carnival has demonstrated over the last twelve months. Additionally, the company's liquid assets exceed short term obligations, suggesting financial stability and the ability to meet its immediate financial commitments.
For investors looking for a deeper analysis and more tips, there are additional insights available on InvestingPro, including a comprehensive review of Shoe Carnival's financial metrics and performance. Those interested can take advantage of an exclusive offer using the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, providing access to a wealth of financial information and investment guidance.
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