CHARLOTTE, N.C. - The Cato Corporation (NYSE: CATO), a specialty retailer of value-priced fashion apparel and accessories, has announced a regular quarterly dividend of $0.17 per share, payable on April 1, 2024, to shareholders of record as of March 26, 2024. This dividend corresponds to an annualized payment of $0.68 per share, yielding 10.3% based on the closing market price as of February 29, 2024.
Cato Corporation operates under three main concepts: "Cato," "Versona," and "It's Fashion." Each brand targets different consumer segments with a focus on value pricing and fashionable merchandise. The company asserts that its Cato stores offer merchandise with fashion and quality on par with mall specialty stores, but at consistently low prices.
Additionally, Cato's exclusive merchandise is available online at www.catofashions.com. Versona positions itself as a unique fashion destination, with a variety of apparel and accessories available at daily exceptional prices, some of which can also be found at www.shopversona.com. "It's Fashion" aims at providing trendy styles for the whole family at low prices every day.
The press release also contains forward-looking statements regarding the company's expected operational financial results and potential impacts of the coronavirus. However, these statements are subject to risks, uncertainties, and other factors that could cause actual results to differ materially.
Factors that may influence consumer confidence and spending include social, economic, political, and public health conditions, as well as uncertainties like unemployment rates, fuel costs, wage rates, tax rates, home values, consumer net worth, and credit availability. Competitive factors, pricing pressures, rapidly changing fashion trends, consumer demands, and the ability to implement new store development strategies also play a role.
The company cautions that the forward-looking statements are based on current expectations and may not be realized if conditions change. The Cato Corporation does not commit to publicly updating these statements in light of new information or future events. This announcement is based on a press release statement from the company.
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