Shoe Carnival, Inc.’s Board of Directors approved a quarterly cash dividend payment of 12 cents per share, representing an increase of 20 percent from 10 cents per share.

The increased quarterly cash dividend of 12 cents per share will be paid on October 17, 2023, to shareholders of record as of the close of business on October 3, 2023.

“This marks our 46th consecutive quarterly dividend. With continued strong cash flow generation and no long-term debt, the Board’s decision to significantly increase the quarterly dividend demonstrates our confidence in driving continued shareholder returns while also investing to grow the business,” commented Mark Worden, Shoe Carnival’s president and chief executive officer.

Future declarations of dividends are subject to the approval of the Board of Directors and depend on the company’s results of operations, financial condition, business conditions, and other factors deemed relevant by the Board of Directors.

Photo courtesy Shoe Carnival