Cato announces quarterly dividend

The board of directors of Cato Corporation has declared a regular quarterly dividend of 0.33 dollar per share payable on October 1, 2018 to shareholders of record on September 17, 2018. The 0.33 dollar dividend or 1.32 dollars on an annualized basis, the company said, represents an annualized yield of 6.3 percent at the closing market price on August 29, 2018.

Cato recently reported Q2 revenue rise of 1 percent to 207 million US dollars, up from 205 million US dollars a year earlier. The company’s net income for the quarter was 6.5 million US dollars or 0.26 dollars per diluted share against net loss of 0.9 million dollars or 0.03 dollar per diluted share.

Picture:Cato Fashions website