Shoe Carnival, Inc. (NASDAQ:SCVL) Plans Quarterly Dividend of $0.14

Shoe Carnival, Inc. (NASDAQ:SCVL) announced a quarterly dividend on Wednesday, December 11th,RTT News reports. Stockholders of record on Monday, January 13th will be given a dividend of 0.135 per share on Monday, January 27th. This represents a $0.54 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date of this dividend is Monday, January 13th.

Shoe Carnival has increased its dividend payment by an average of 27.2% annually over the last three years and has increased its dividend every year for the last 13 years. Shoe Carnival has a dividend payout ratio of 16.0% 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 Stock Down 1.0 %

Shares of NASDAQ SCVL opened at $30.35 on Friday. The company has a 50 day moving average of $34.56 and a 200 day moving average of $38.07. Shoe Carnival has a twelve month low of $24.94 and a twelve month high of $46.92. The firm has a market cap of $824.76 million, a P/E ratio of 11.16 and a beta of 1.52.

Shoe Carnival (NASDAQ:SCVL) last announced its quarterly earnings results on Thursday, November 21st. The company reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.70 by $0.01. Shoe Carnival had a return on equity of 12.52% and a net margin of 6.12%. The firm had revenue of $306.90 million for the quarter, compared to the consensus estimate of $316.97 million. During the same period in the prior year, the company posted $0.80 earnings per share. The company’s quarterly revenue was down 4.1% on a year-over-year basis. As a group, equities analysts expect that Shoe Carnival will post 2.6 earnings per share for the current fiscal year.

Insider Transactions at Shoe Carnival

In other news, Chairman Wayne J. Weaver bought 285,500 shares of Shoe Carnival stock in a transaction that occurred on Friday, December 6th. The stock was bought at an average cost of $33.91 per share, with a total value of $9,681,305.00. Following the acquisition, the chairman now owns 4,173,529 shares of the company’s stock, valued at $141,524,368.39. The trade was a 7.34 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 34.70% of the stock is currently owned by company insiders.

Shoe Carnival announced that its Board of Directors has approved a share repurchase program on Thursday, December 12th that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 5.2% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

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 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.