CHARLOTTE, N.C., May 24, 2024
/PRNewswire/ -- The Board of Directors of The Cato Corporation
(NYSE: CATO) declared a regular quarterly dividend of $0.17 per share. The dividend will be
payable on June 24, 2024 to
shareholders of record on June 10,
2024.
The $0.17 dividend, or
$0.68 on an annualized
basis, represents an annualized yield of 11.7% at the closing
market price on May 23, 2024.
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.
Statements in this press release that express a belief,
expectation or intention, as well as those that are not a
historical fact, including, without limitation,
statements regarding the Company's expected or estimated
operational financial results, activities or opportunities, and
potential impacts and effects of interest rates, inflation or other
factors that may affect our customers' discretionary spending or
our costs are considered "forward-looking" within the meaning of
The Private Securities Litigation Reform Act of 1995. Such
forward-looking statements are based on current expectations that
are subject to known and unknown risks, uncertainties and other
factors that could cause actual results to differ materially from
those contemplated by the forward-looking statements.
Such factors include, but are not limited to, any actual
or perceived deterioration in, or continuation of negative trends
in, the conditions that drive consumer confidence and spending,
including, but not limited to, prevailing social, economic,
political and public health conditions and uncertainties, levels of
unemployment, fuel, energy and food costs, inflation, wage rates,
tax rates, interest rates, home values, consumer net worth and the
availability of credit; changes in laws, regulations or government
policies affecting our business including but not limited to
tariffs; uncertainties regarding the impact of any governmental
action regarding, or responses to, the foregoing conditions;
competitive factors and pricing pressures; our ability to predict
and respond to rapidly changing fashion trends and consumer
demands; our ability to successfully implement our new store
development strategy to increase new store openings and the ability
of any such new stores to grow and perform as expected;
underperformance or other factors that may lead to, or affect the
volume of, store closures; adverse weather, public health threats
(including the global coronavirus (COVID-19) outbreak), acts of war
or aggression or similar conditions that may affect our merchandise
supply chain, sales or operations; inventory risks due to shifts in
market demand, including the ability to liquidate excess inventory
at anticipated margins; adverse developments or volatility
affecting the financial services industry or broader financial
markets; and other factors discussed under "Risk Factors" in Part
I, Item 1A of the Company's most recently filed annual report
on Form 10-K and in other reports the Company files with or
furnishes to the SEC from time to time. The Company does not
undertake to publicly update or revise the forward-looking
statements even if experience or future changes make it clear that
the projected results expressed or implied therein will not be
realized. The Company is not responsible for any changes made to
this press release by wire or Internet services.
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SOURCE Cato Corporation