CHARLOTTE, N.C., May 20, 2016 /PRNewswire/ -- The Board of Directors of The Cato Corporation (NYSE: CATO) declared a regular quarterly dividend of $0.33 per share. The dividend will be payable on June 20, 2016 to shareholders of record on June 6, 2016.
The $0.33 dividend, or $1.32 on an annualized basis, is an increase of 10% above the current dividend, and represents an annualized yield of 3.8% based on the closing market price of $34.80 on May 18, 2016.
The Cato Corporation is a leading specialty retailer of value-priced fashion apparel and accessories operating three concepts, "Cato", "Versona" and "It's Fashion". The Company's Cato stores offer exclusive merchandise with fashion and quality comparable to mall specialty stores at low prices every day. The Company also offers exclusive merchandise found in its Cato stores at www.catofashions.com. Versona is a unique fashion destination offering apparel and accessories including jewelry, handbags and shoes at exceptional prices every day. Select Versona merchandise can also be found at www.shopversona.com. It's Fashion offers fashion with a focus on the latest trendy styles for the entire family at low prices every day. As of April 30, 2016, the Company operated 1,372 stores in 33 states, compared to 1,352 stores in 32 states as of May 2, 2015. Additional information on The Cato Corporation is available at www.catocorp.com.
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SOURCE The Cato Corporation