Shoe Carnival (SCVL) will raise its quarterly dividend by no less than 55.6 percent to 14 cents quarterly in 2021. The company is on of very few retailers not cutting or suspending the dividend in 2020 because of COVID-19. Actually SCVL hiked the dividend by 5.9 percent to $0.09 per share in 2020. In 2019 the dividend was also raised by $0.005 to $0.085 per share by the retailer of moderately priced footwear and accessories.
The next dividend will be paid on April 19, 2021 to shareholders of record as of the close of business on April 5, 2021. A new annual rate of 56 cents per share yields 0.9% at a stock price of $60.
In the press release dated March 18, 2021 Shoe Carnival announces the dividend hike adding that the increase reflects the Board of Directors’ confidence in Shoe Carnival’s near-term and longer-term strategy and further underscores its commitment to returning value to shareholders.
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. In addition to footwear, its stores carry selected accessory items, such as socks, belts, shoe care items, handbags, sport bags, backpacks, jewelry, scarves and wallets. 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.