The Board of Directors of The Cato Corporation declared a regular quarterly dividend of $0.30 per share. The dividend will be payable on March 24, 2014 to shareholders of record on March 10, 2014.
The $0.30 dividend, or $1.20 on an annualized basis, represents an annualized yield of 4.2% at the closing market price on February 27, 2014.
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. Its Fashion offers fashion with a focus on the latest trendy styles for the entire family at low prices every day. As of February 1, 2014, the Company operated 1,320 stores in 32 states.