CHARLOTTE, N.C., Nov. 27, 2013 /PRNewswire/ -- The Board of Directors of The Cato Corporation (NYSE: CATO) declared a regular quarterly dividend of $0.05 per share. The dividend will be payable on January 2, 2014 to shareholders of record on December 16, 2013.
The Board of Directors previously accelerated the full year 2013 dividend of $1.00 to December 28, 2012. The $0.05 dividend, or $0.20 on an annualized basis, when coupled with the $1.00 dividend accelerated into December 2012 for a total annualized rate of $1.20 per share, represents an annualized yield of 3.5% at the closing market price on November 26.
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. Versona is a unique fashion destination offering accessories and apparel including jewelry, handbags and shoes at exceptional prices every day. It's Fashion offers fashion with a focus on the latest trendy styles for the entire family at low prices every day. As of November 2, 2013, the Company operated 1,318 stores in 32 states. Additional information on The Cato Corporation is available at www.catocorp.com.
SOURCE The Cato Corporation