Cato Keeps Dividend Steady
Fashion retailer Catoannounced yesterday its third-quarter dividend of $0.05 per share, the same rate it paid last quarter after accelerating the payment of 2013 dividend in 2012 and the payment of a special dividend of $1.00 per share in December 2012. It also increased the quarterly payout by 20%.
The board of directors said the quarterly dividend is payable on Sept. 30 to the holders of record at the close of business on Sept. 16. The regular dividend payment equates to a $0.20-per-share annual dividend, yielding 0.8% based on the closing price today of Cato's stock.
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