Shoe Carnival (SCVL) will raise its quarterly dividend by 6.7 percent to $0.08 per share in 2018. Last year the dividend was raised by $0.005 to $0.075 per share.

The quarterly cash dividend of $0.08 per share will be paid on July 27, 2018, to shareholders of record as of the close of business on July 9, 2018. The new dividend yield for the retailer of moderately priced footwear and accessories is

“Once again, we are pleased to announce the Board’s decision to increase our quarterly cash dividend. We believe this reflects our expectation for continued generation of free cash-flow and aligns with our ongoing goal of enhancing total return to our shareholders,” stated Cliff Sifford, Shoe Carnival’s President and Chief Executive Officer.

Shoe Carnival, Inc. is a family footwear retailers, offering a broad assortment of moderately priced dress, casual and athletic footwear for men, women and children with emphasis on national and regional name brands.