Shoe Carnival, Inc. (NASDAQ:SCVL) (the “Company”), a leading retailer of footwear and accessories for the family, announced today that its Board of Directors has authorized a two-for-one stock split of the Company’s common stock. The stock split will be effected by the payment of a stock dividend of one share on each share of common stock to shareholders of record at the close of business on Tuesday, July 6, 2021. The dividend shares are scheduled to be distributed on Monday, July 19, 2021. The Company expects the adjusted number of shares outstanding and adjusted per share stock price reported by the Nasdaq Stock Market to be effective Tuesday, July 20, 2021. The recently announced cash dividend of $0.14 per share, which is also payable on July 19, 2021, will be paid on a pre-split basis.
“The Board’s approval of this stock split along with the recent dividend increase, further underscores its confidence in Shoe Carnival’s long-term growth trajectory. We are truly excited about the strength of our concept, dedication of our team and unwavering commitment to our customers continuing to position Shoe Carnival as a leader in the family footwear segment,” commented Cliff Sifford, Shoe Carnival’s Vice Chairman and Chief Executive Officer.
