Cato Accelerates Regular Quarterly Dividend
CHARLOTTE, N.C., Nov. 21, 2012 /PRNewswire/ -- The Cato Corporation (NYSE: CATO) announced today that its Board of Directors declared a regular quarterly dividend of $0.25 per share. The dividend will be payable on December 28, 2012 to shareholders of record of the Corporation at the close of business on December 14, 2012. The payment date was originally scheduled for January 4, 2013. The Board of Directors chose to accelerate the payment to benefit shareholders affected by any 2013 tax increase. At the closing market price on November 20, 2012, the current dividend represents an annualized yield of 3.6%.
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. Additional information on The Cato Corporation is available at www.catocorp.com.
SOURCE The Cato Corporation