Item 5. Market for Registrant’s Common Equity
ITEM 5. MARKET FOR THE REGISTRANT’S COMMON EQUITY, RELATED S TOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES
Market Information and Holders
Our common stock is quoted on The Nasdaq Stock Market LLC under the trading symbol “SCVL.” As of March 20, 2026, there were approximately 111 holders of record of our common stock. We did not sell any unregistered equity securities during Fiscal 2025, Fiscal 2024 or Fiscal 2023.
Cash Dividends
During Fiscal 2025, we paid quarterly cash dividends of $0.15 per share for all four fiscal quarters. The declaration and payment of any future dividends are at the discretion of the Board of Directors and will depend on our results of operations, financial condition, business conditions and other factors deemed relevant by our Board of Directors.
On March 3, 2026, the Board of Directors increased the quarterly cash dividend from $0.150 to $0.170 per share, an increase of 13.3%, for the first quarter of Fiscal 2026. The quarterly cash dividend of $0.170 per share will be paid on April 20, 2026 to shareholders of record as of the close of business on April 6, 2026.
Issuer Purchases of Equity Securities
We did not repurchase any shares of our common stock under our Board-approved share repurchase program during the fourth quarter of Fiscal 2025. For a discussion of our share repurchase program, see “Share Repurchase Program” in PART II, ITEM 7, “Management's Discussion and Analysis of Financial Condition and Results of Operations – Liquidity and Capital Resources” of this Annual Report on Form 10-K.
Throughout Fiscal 2025, we issued treasury shares to certain employees upon the vesting of restricted stock units and performance stock units and for other stock awards, and to our non-employee directors upon the issuance of service-based restricted stock awards. We also repurchased 104,759 shares of common stock as a result of our withholding shares or allowing our employees to deliver shares to us for the income taxes resulting from the vesting of certain share-settled equity awards. We intend to continue issuing shares out of treasury to meet these needs.
The following table summarizes our repurchase activity during the fourth quarter of Fiscal 2025:
Issuer Purchases of Equity Securities
Total Number
Approximate
Of Shares
Dollar Value
Purchased
of Shares
Total
as Part
that May Yet
Number
Average
of Publicly
Be Purchased
of Shares
Price Paid
Announced
Under
Period
Purchased (1)
per Share
Programs (2)
Programs (2)
November 2, 2025 to November 29, 2025
0
$
0.00
0
$
50,000,000
November 30, 2025 to January 3, 2026
3,313
$
16.88
0
$
50,000,000
January 4, 2026 to January 31, 2026
0
$
0.00
0
$
50,000,000
3,313
0
(1) 3,313 shares were withheld by us in connection with employee payroll tax withholding upon the vesting of stock-based compensation awards that were settled in shares.
(2) On December 10, 2025, our Board of Directors authorized a new share repurchase program (the “2026 Share Repurchase Program”) for up to $50.0 million of our outstanding common stock, effective January 1, 2026 and expiring on December 31, 2026. The 2026 Share Repurchase Program replaced the prior $50.0 million share repurchase program that was authorized in December 2024 and expired in accordance with its terms on December 31, 2025.
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Credit Agreement's Impact on Share Repurchases and Dividends
Our amended and restated credit agreement, dated as of March 23, 2022 (our “Credit Agreement”), contains certain restrictions on our ability to pay cash dividends and to repurchase shares of our common stock. However, as long as our consolidated EBITDA is positive and there are either no or low borrowings outstanding under the Credit Agreement, we expect these restrictions would have no impact on our ability to pay cash dividends or execute share repurchases from cash on hand. The Credit Agreement stipulates that cash dividends and share repurchases of $15 million or less per fiscal year can be made without restriction as long as there is no default or event of default before and immediately after such distributions. We are also permitted to pay cash dividends or repurchase shares of our common stock in excess of $15 million in a fiscal year provided that (a) no default or event of default exists before and immediately after the distribution, and (b) on a proforma basis, the ratio of (i) the sum of (A) our consolidated funded indebtedness plus (B) three times our consolidated rental expense to (ii) the sum of (A) our consolidated EBITDA plus (B) our consolidated rental expense is less than 3.5 to 1.0. See Note 10 - “Debt” in our Notes to Consolidated Financial Statements contained in PART II, ITEM 8 of this Annual Report on Form 10-K for more information regarding the Credit Agreement.
ITEM 6 . [RESERVED]
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