SCVL Marks 11th Straight Year of Dividend Growth With 11% Increase

Core Viewpoint - Shoe Carnival, Inc. has announced an increase in its quarterly cash dividend, reflecting the company's commitment to shareholder value and confidence in its growth trajectory [1][2]. Dividend Information - The company has approved a dividend payment of 15 cents per share, marking an 11.1% increase and bringing the annualized dividend rate to 60 cents per share [1][2]. - This is the 52nd consecutive quarterly dividend and the 11th straight year of dividend growth, with the new annualized rate representing a 238% increase compared to five years ago [2]. Financial Position - As of the end of the third quarter of fiscal 2024, Shoe Carnival reported a cash balance of $91 million, an increase of$20 million from the previous year, demonstrating liquidity generation despite challenges [2]. - The company generated $58.1 million in cash flow from operations over the past nine months of fiscal 2024, allowing it to fund growth initiatives internally [3]. - Shoe Carnival has maintained a debt-free status for 19 consecutive years, providing financial flexibility and reducing risks associated with interest payments [4]. Upcoming Earnings Expectations - The company is expected to report a year-over-year decrease in revenue for the fourth quarter of fiscal 2024, with consensus estimates pegged at$263.9 million, indicating a 5.8% decline from the prior year [5][6]. - The consensus estimate for earnings per share is stable at 42 cents, reflecting a decrease of 28.8% from the year-ago quarter [6]. Stock Performance - Shares of Shoe Carnival have declined by 34.2% over the past three months, compared to a 21.5% decline in the industry [8].