CHARLOTTE, N.C., Nov. 17,
2023 /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 January 2,
2024 to shareholders of record on December 18, 2023.
The $0.17 dividend,
or $0.68 on an annualized
basis, represents an annualized yield of 9.7% at the closing
market price on November 16,
2023.
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 the coronavirus 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 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, wage rates, tax rates, interest rates,
home values, consumer net worth and the availability of credit;
changes in laws or regulations 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;
adverse weather, public health threats (including the global
coronavirus (COVID-19) outbreak) or similar conditions that may
affect our sales or operations; inventory risks due to shifts in
market demand, including the ability to liquidate excess inventory
at anticipated margins; 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 The Cato Corporation