Shoe Carnival Declares Quarterly Cash Dividend

Company to Pay Quarterly Cash Dividend of $0.09 Per Share

Shoe Carnival, Inc. (NASDAQ: SCVL) (the “Company”) a leading retailer of moderately priced footwear and accessories, announced today that its Board of Directors has approved the payment of a quarterly cash dividend.

The quarterly cash dividend of $0.09 per share will be paid on October 19, 2020, to shareholders of record as of the close of business on October 5, 2020.

Future declarations of dividends are subject to approval of the Board of Directors and will depend on the Company’s results of operations, financial condition, business conditions and other factors deemed relevant by the Board of Directors.

About Shoe Carnival

Shoe Carnival, Inc. is one of the nation’s largest family footwear retailers, offering a broad assortment of moderately priced dress, casual and athletic footwear for men, women and children with emphasis on national name brands. As of September 17, 2020, the Company operates 383 stores in 35 states and Puerto Rico, and offers online shopping at www.shoecarnival.com. Headquartered in Evansville, Indiana, Shoe Carnival trades on The NASDAQ Stock Market LLC under the symbol SCVL. Shoe Carnival’s press releases and annual report are available on the Company’s website at www.shoecarnival.com.

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Cliff Sifford Vice Chairman and Chief Executive Officer, or W. Kerry Jackson Senior Executive Vice President, Chief Financial and Administrative Officer and Treasurer

7500 East Columbia Street Evansville, IN 47715 www.shoecarnival.com [phone]