Shoe Carnival Announces Three-for-Two Stock Split
Shoe Carnival, Inc. (NASDAQ: SCVL) announced today that its Board of Directors has authorized a three-for-two stock split of the shares of the Company's common stock. The stock split will be effected by the payment of a stock dividend of one share on each two shares of common stock to shareholders of record at the close of business on Friday, April 13, 2012. The stock dividend will be paid on Friday, April 27, 2012. The Company expects the adjusted number of shares outstanding and adjusted per-share stock price reported by the Nasdaq Stock Market to be effective Monday, April 30, 2012.
“We are pleased to take this action as a result of our strong operating results and stock performance,” said Mark Lemond, president and chief executive officer. “This stock dividend is intended to make Shoe Carnival's shares more accessible and provide us with the opportunity to increase our shareholder base and market liquidity. Today's action reflects our belief in the long-term strategy of our Company and supports our ongoing commitment to enhancing shareholder value.”
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