Shoe Carnival (SCVL) will raise its quarterly dividend by 6.3 percent to $0.085 per share in 2019. Last year the dividend was raised by $0.005 to $0.008 per share by the retailer of moderately priced footwear and accessories.

The quarterly cash dividend of $0.085 per share will be paid on July 22, 2019, to shareholders of record as of the close of business on July 8, 2019. A new annual rate of 34 cents yields 1.3% at a stock price of $26.57.

“We are happy to announce another increase to our quarterly cash dividend, as approved by our Board of Directors. This action further demonstrates 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 retailer, 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. The company operates stores in The United States and Puerto Rico. Shoe Carnival went public in 1993 and has paid a dividend every year since 2012.