Shoe Carnival Announces Share Repurchase and Dividend Payout

On the afternoon of December 19, Shoe Carnival (SCVL) announced that its Board of Directors authorized a new $50 million share repurchase program. This replaces a previous share repurchase program authorized last year and set to expire on December 31, 2017. In addition to the repurchase program, the Board of Directors authorized a dividend payment of $0.075 per share to be paid on January 22, 2018 to shareholders on record as of the close of business on January 8, 2018.

 

Sonal detected the event and issued an alert at 4:05 pm on December 19. The next trade occurred at 4:07 pm for $26.45. Regular market trading opened on the morning of December 20 for $26.51. The stock price continued to rise throughout the day before closing at $27.24.

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