The corporate pays a quarterly money dividend of $0.135 per share
EVANSVILLE, Ind.–(BUSINESS WIRE)–Shoe Carnival (NYSE:), Inc. (Nasdaq: SCVL) (the Firm), a number one retailer of household footwear and equipment, immediately introduced immediately that its board of administrators had accepted the cost of a quarterly money dividend of $0.135 per share, to be paid on January 27, 2025 to shareholders of file on the shut of enterprise on January 13 2025.
Moreover, its board of administrators approved a brand new inventory repurchase program for as much as $50 million of its excellent widespread inventory, efficient January 1, 2025. The brand new inventory repurchase program will change a current $50 million share repurchase program which was approved on December 14, 2025. 2023 and can expire in accordance with its phrases on December 31, 2024. Extra purchases could also be made underneath the present share buyback program earlier than its expiration.
That is our 51st consecutive quarterly dividend and we proceed to generate robust money move, financing our operations and development methods with out debt. Our robust capital construction, liquidity administration and profitability place us effectively to proceed to ship elevated worth to our shareholders and pursue our imaginative and prescient of turning into the nation’s main household footwear retailer, commented Mark Worden, Carnival of footwear (NASDAQ:) President and CEO.
Purchases underneath the brand new share repurchase program could also be made within the open market or by way of privately negotiated transactions now and again till December 31, 2025, and in accordance with relevant legal guidelines, guidelines and rules. Repurchases may be made pursuant to a Rule 10b5-1 plan which, if adopted by the Firm, would allow shares to be repurchased pursuant to predetermined standards when the Firm would possibly in any other case be prohibited from doing so in underneath insider buying and selling legal guidelines or as a result of self-imposed buying and selling blackout intervals. The share repurchase program could also be modified, suspended or discontinued at any time and doesn’t obligate the Firm to repurchase its widespread shares. The Firm intends to fund the share repurchase program from out there money and all shares acquired will likely be out there for stock-based compensation awards and different company functions.
The precise quantity and worth of shares to be bought will rely upon the efficiency of the Firm’s inventory value and different financial and market elements.
Future dividend declarations are topic to approval by the Board of Administrators and can rely upon the Firm’s outcomes of operations, monetary situation, financial situations and different elements deemed related by the Board of Administrators.
In regards to the Shoe Carnival
Shoe Carnival, Inc. is without doubt one of the nation’s largest household shoe retailers, providing a large assortment of gown, informal and athletic footwear for males, girls and kids, with an emphasis on main nationwide manufacturers. As of December 12, 2024, the corporate operated 431 shops in 36 states and Puerto Rico underneath its Shoe Carnival and Shoe Station banners and provided procuring at www.shoecarnival.com and www.shoestation.com. Headquartered in Evansville, Indiana, Shoe Carnival, Inc. is listed on the Nasdaq Inventory Market LLC underneath the image SCVL. Press releases and annual studies can be found on the Firm’s web site at www.shoecarnival.com.
Warning Concerning Ahead-Wanting Info
As used herein, we, us and our confer with Shoe Carnival, Inc. This press launch accommodates forward-looking statements, inside the which means of the Non-public Securities Litigation Reform Act of 1995, that contain various dangers and uncertainties, akin to statements about our future development, operations, money flows and shareholder returns, in addition to our development technique and earnings transformation.
A variety of elements might trigger our precise outcomes, efficiency, achievements or business outcomes to be materially totally different from any future outcomes, efficiency or achievements expressed or implied by such forward-looking statements. These elements embody, however should not restricted to: our potential to regulate prices and meet our labor wants in an surroundings of rising wages, inflation and/or provide chain constraints ; the impression of competitors and pricing, together with our potential to keep up present ranges of promotional depth; the consequences and period of financial downturns and unemployment charges; our potential to realize the anticipated working outcomes and anticipated development of our Shoe Station banner, which incorporates the not too long ago acquired shops and operations of Rogan’s, inside the anticipated time-frame, or in any respect; the potential impression of nationwide and worldwide safety points, together with these brought on by warfare and terrorism, on the retail surroundings; normal financial situations within the areas of the continental United States and Puerto Rico the place our shops are situated; modifications within the general retail surroundings and notably within the attire and footwear retail industries; our potential to efficiently make the most of the e-commerce gross sales channel and its impression on site visitors and transactions in our bodily shops; the success of outside procuring facilities the place a lot of our shops are situated and the impression on our potential to draw prospects to our shops; our potential to draw prospects to our e-commerce platform and efficiently increase our omnichannel gross sales; the effectiveness of our stock administration, together with our potential to handle relationships with key merchandise suppliers and direct-to-consumer initiatives; modifications in {our relationships} with different key suppliers; modifications in political and financial environments, the state of commerce relations with China and different international locations which can be main shoe producers and the impression of modifications in commerce insurance policies and tariffs; our potential to efficiently handle and execute our advertising and marketing initiatives and keep optimistic model notion and recognition; our potential to efficiently handle our present actual property portfolio and lease obligations; climate modifications, together with tendencies influenced by local weather change; modifications in client buying tendencies and our potential to determine and reply to rising trend tendencies; the impression of disruptions in our distribution or info know-how operations, together with at our distribution middle situated in Evansville, Indiana; the impression of pure disasters, public well being and political crises, civil unrest and different catastrophic occasions on our operations and people of our suppliers, in addition to on client confidence and buying typically; the period and unfold of a public well being disaster and mitigation efforts undertaken, together with the consequences of presidency stimulus measures on client spending; dangers related to the seasonality of the retail business; the impression of unauthorized disclosure or misuse of private and confidential info on our prospects, suppliers and staff, together with on account of a cybersecurity breach; our potential to successfully combine Rogan’s, retain Rogan’s staff and obtain the anticipated operational outcomes, synergies, efficiencies and different advantages of the Rogan’s acquisition inside the anticipated time-frame, or in any respect; dangers that the acquisition of Rogan might disrupt our present plans and operations or negatively impression {our relationships} with our suppliers and different suppliers; our potential to efficiently execute our enterprise technique, together with the provision of fascinating retailer places on acceptable leasing phrases, our potential to successfully determine, consummate or combine future acquisitions, our potential to implement and adapt new applied sciences and programs, our potential to open new shops in a well timed and worthwhile method, together with our entry into main new markets and the provision of ample funds to implement our enterprise plans; increased than anticipated prices related to closing underperforming shops; the shortcoming of producers to ship merchandise in a well timed method; a rise in the associated fee or disruption of the move of imported items; the impression of regulatory modifications in the US, together with minimal wage legal guidelines and rules, and in international locations the place our producers are situated; resolving disputes or regulatory proceedings by which we’re or might turn out to be concerned; continued volatility and disruptions in capital and credit score markets; future share repurchases underneath our share repurchase program and future dividend funds; and different elements described within the Firm’s filings with the SEC, together with the Firm’s most up-to-date Annual Report on Type 10-Okay. As well as, these forward-looking statements essentially rely upon assumptions, estimates and dates that could be incorrect or imprecise and contain identified and unknown dangers, uncertainties and different elements. Due to this fact, the forward-looking statements included on this press launch should not meant to be predictions of future occasions or circumstances and should not come to cross. Ahead-looking statements could be recognized, amongst different issues, by means of forward-looking terminology akin to believes, expects, goals, on observe, might, will, ought to, seeks, professional forma, anticipates, intends or the detrimental of any of those phrases, or comparable terminology, or by way of discussions of technique or intentions. Given these uncertainties, we warning buyers to not place undue reliance on these forward-looking statements, which converse solely as of the date hereof. We undertake no obligation to replace any of those elements or publicly announce any revisions to the forward-looking statements contained on this press launch to replicate future occasions or developments.
View supply model on businesswire.com: https://www.businesswire.com/information/house/20241212014496/en/
Steve R. Alexandre
Shoe Carnival Investor Relations
(812) 867-4034
Supply: Shoe Carnival, Inc.
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