SHOE CARNIVAL, INC. (NASDAQ:SCVL) Files An 8-K Other EventsItem 8.01 Other Events
SHOE CARNIVAL, INC. (NASDAQ:SCVL) Files An 8-K Other Events
On December 6, 2016, the Board of Directors of Shoe Carnival, Inc. (the “Company”) authorized a new share repurchase program for up to $50 million of its outstanding common stock, effective January 1, 2017. The purchases under the new share repurchase program may be made in the open market or through privately negotiated transactions from time-to-time through December 31, 2017, and in accordance with applicable laws, rules and regulations. Repurchases may also be made to a Rule 10b5-1 plan, which, if adopted by the Company, would permit shares to be repurchased in accordance with pre-determined criteria when the Company might otherwise be prohibited from doing so under insider trading laws or because of self-imposed trading blackout periods. The share repurchase program may be amended, suspended or discontinued at any time and does not commit the Company to repurchase shares of its common stock. The actual number and value of the shares to be purchased will depend on the performance of the Company’s stock price and other market conditions.
The new share repurchase program will replace the existing $50 million share repurchase program that was authorized on December 9, 2015, which will expire in accordance with its terms on December 31, 2016. There is currently $10.3 million that remains authorized for repurchases under the existing share repurchase program. Additional purchases may be made under the existing share repurchase program prior to its expiration.
In addition, the Company’s Board of Directors approved the payment of a quarterly cash dividend of $0.07 per share to be paid on January 23, 2017, to shareholders of record as of the close of business on January 9, 2017.
A copy of the press release announcing the new share repurchase program and the payment of the quarterly cash dividend is attached hereto as Exhibit 99.1 and the information set forth therein is incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits:
Exhibit No. Exhibits
99.1 Press Release of the Company dated December 9, 2016
About SHOE CARNIVAL, INC. (NASDAQ:SCVL)
Shoe Carnival, Inc. is a family footwear retailer. The Company’s primary activity is the sale of footwear and related products through its retail stores in approximately 30 states within the continental United States and in Puerto Rico. The Company’s products assortment includes dress and casual shoes, sandals, boots and an assortment of athletic footwear for men, women and children. Its stores also carry accessories, such as socks, belts, shoe care items, handbags, jewelry, scarves and wallets. It classifies athletic shoes by functionality, such as running, basketball or fitness shoes. Its average store carries approximately 27,100 pairs of shoes in over four general categories: women’s, men’s, children’s and athletics. The Company operates approximately 400 stores in over 30 states and Puerto Rico, and offers online shopping at www.shoecarnival.com. Its e-commerce site offers customers an opportunity to choose from a selection of products in all of the same categories of footwear. SHOE CARNIVAL, INC. (NASDAQ:SCVL) Recent Trading Information
SHOE CARNIVAL, INC. (NASDAQ:SCVL) closed its last trading session down -0.72 at 29.38 with 108,790 shares trading hands.
Shoe Carnival, Inc. is a family footwear retailer. The Company’s primary activity is the sale of footwear and related products through its retail stores in approximately 30 states within the continental United States and in Puerto Rico. The Company’s products assortment includes dress and casual shoes, sandals, boots and an assortment of athletic footwear for men, women and children. Its stores also carry accessories, such as socks, belts, shoe care items, handbags, jewelry, scarves and wallets. It classifies athletic shoes by functionality, such as running, basketball or fitness shoes. Its average store carries approximately 27,100 pairs of shoes in over four general categories: women’s, men’s, children’s and athletics. The Company operates approximately 400 stores in over 30 states and Puerto Rico, and offers online shopping at www.shoecarnival.com. Its e-commerce site offers customers an opportunity to choose from a selection of products in all of the same categories of footwear. SHOE CARNIVAL, INC. (NASDAQ:SCVL) Recent Trading Information
SHOE CARNIVAL, INC. (NASDAQ:SCVL) closed its last trading session down -0.72 at 29.38 with 108,790 shares trading hands.