Company Declares Quarterly Cash Dividend of $0.075 Per Share
EVANSVILLE, Ind. -- (Business Wire)
Shoe Carnival, Inc. (NASDAQ: SCVL) a leading retailer of moderately
priced footwear and accessories, announced today that its Board of
Directors has approved a seven percent increase in its quarterly cash
The quarterly cash dividend of $0.075 per share will be paid on July 17,
2017, to shareholders of record as of the close of business on July 3,
“We are pleased to announce the Board’s decision to once again increase
our quarterly cash dividend, which aligns with our ongoing goal of
enhancing total return to our shareholders and reflects our expectation
for continued generation of free cash-flow,” stated Cliff Sifford, Shoe
Carnival’s President and Chief Executive Officer.
Future declarations of dividends are subject to approval of the Board of
Directors and will depend on the Company’s results of operations,
financial condition, business conditions and other factors deemed
relevant by the Board of Directors.
About Shoe Carnival
Shoe Carnival, Inc. is one of the nation’s largest 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. As of June 19, 2017, the Company
operates 417 stores in 35 states and Puerto Rico, and offers online
shopping at www.shoecarnival.com.
Headquartered in Evansville, IN, Shoe Carnival trades on The NASDAQ
Stock Market LLC under the symbol SCVL. Shoe Carnival’s press releases
and annual report are available on the Company’s website at www.shoecarnival.com.
Cautionary Statement Regarding Forward-Looking Information
This press release contains forward-looking statements, within the
meaning of the Private Securities Litigation Reform Act of 1995, that
involve a number of risks and uncertainties. A number of factors could
cause our actual results, performance, achievements or industry results
to be materially different from any future results, performance or
achievements expressed or implied by these forward-looking statements.
These factors include, but are not limited to: general economic
conditions in the areas of the continental United States in which our
stores are located and the impact of the ongoing economic crisis in
Puerto Rico on sales at, and cash flows of, our stores located in Puerto
Rico; the effects and duration of economic downturns and unemployment
rates; changes in the overall retail environment and more specifically
in the apparel and footwear retail sectors; our ability to generate
increased sales at our stores; our ability to successfully navigate the
increasing use of on-line retailers for fashion purchases and the impact
on traffic and transactions in our physical stores; our ability to
attract customers to our e-commerce website and to successfully grow our
e-commerce sales; the potential impact of national and international
security concerns on the retail environment; changes in our
relationships with key suppliers; the impact of competition and pricing;
our ability to successfully manage and execute our marketing initiatives
and maintain positive brand perception and recognition; changes in
weather patterns, consumer buying trends and our ability to identify and
respond to emerging fashion trends; the impact of disruptions in our
distribution or information technology operations; the effectiveness of
our inventory management; the impact of natural disasters on our stores,
as well as on consumer confidence and purchasing in general; risks
associated with the seasonality of the retail industry; the impact of
unauthorized disclosure or misuse of personal and confidential
information about our customers, vendors and employees; our ability to
manage our third-party vendor relationships; our ability to successfully
execute our growth strategy, including the availability of desirable
store locations at acceptable lease terms, our ability to open new
stores in a timely and profitable manner, including our entry into major
new markets, and the availability of sufficient funds to implement our
growth plans; higher than anticipated costs associated with the closing
of underperforming stores; the inability of manufacturers to deliver
products in a timely manner; changes in the political and economic
environments in, and continued favorable trade relations with, China and
other countries which are the major manufacturers of footwear; the
impact of regulatory changes in the United States and the countries
where our manufacturers are located; the resolution of litigation or
regulatory proceedings in which we are or may become involved; our
ability to meet our labor needs while controlling costs; future stock
repurchases under our stock repurchase program and future dividend
payments; and other factors described in the Company’s SEC filings,
including the Company’s latest Annual Report on Form 10-K.
In addition, these forward-looking statements necessarily depend upon
assumptions, estimates and dates that may be incorrect or imprecise and
involve known and unknown risks, uncertainties and other factors.
Accordingly, any forward-looking statements included in this press
release do not purport to be predictions of future events or
circumstances and may not be realized. Forward-looking statements can be
identified by, among other things, the use of forward-looking terms such
as “believes,” “expects,” “may,” “will,” “should,” “seeks,” “pro forma,”
“anticipates,” “intends” or the negative of any of these terms, or
comparable terminology, or by discussions of strategy or intentions.
Given these uncertainties, we caution investors not to place undue
reliance on these forward-looking statements, which speak only as of the
date hereof. We disclaim any obligation to update any of these factors
or to publicly announce any revisions to the forward-looking statements
contained in this press release to reflect future events or developments.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170619006211/en/
Shoe Carnival, Inc.
and Chief Executive Officer
W. Kerry Jackson
Executive Vice President,
Chief Operating and Financial
Officer and Treasurer
Source: Shoe Carnival, Inc.
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