Shoe Carnival Inc. stated that its board of directors has approved a seven percent increase in its quarterly cash dividend.

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, 2017.

“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.

Photo courtesy Shoe Carnival