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Shoe Carnival announces dividend, share repurchase program

By Prachi Singh

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Business

Board of directors at Shoe Carnival, Inc. has authorized a new share repurchase program for up to 50 million dollars of its outstanding common stock, effective January 1, 2019. In addition, the company said in a statement that its board approved the payment of a quarterly cash dividend of 8 cents per share to be paid on January 28, 2019, to shareholders of record as of the close of business on January 14, 2019.

The company added that the new share repurchase program will replace the existing 50 million dollars share repurchase program that was authorized on December 14, 2017, which will expire in accordance with its terms on December 31, 2018. There is currently 4 million dollars that remains authorized for repurchases under the existing share repurchase program.

Shoe Carnival offers moderately priced dress, casual and athletic footwear for men, women and children through 402 stores in 35 states and Puerto Rico as well as its online store.

Picture:Facebook/Shoe Carnival

Shoe Carnival