Shoe Carnival (SCVL) said Thursday its board has authorized a new share repurchase plan for up to $50 million of the company's outstanding common stock, starting Jan. 1 through Dec. 31, 2025.
The new program will replace the current $50 million share repurchase plan that will expire on Dec. 31, the company said.
The family footwear retailer said it plans to finance the stock buyback from cash on hand.
Additionally, Shoe Carnival said its board maintained the quarterly dividend at $0.135 per share, payable Jan. 27 to shareholders of record as of Jan. 13.
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