CHARLOTTE, N.C., Aug. 30 /PRNewswire-FirstCall/ -- The Cato Corporation announced today that its Board of Directors declared a regular quarterly dividend of $0.165 per share. The dividend will be payable on September 24, 2007 to shareholders of record of the Corporation at the close of business on September 10, 2007. At the closing market price on August 30, 2007, the current dividend represents an annualized yield of 3.1%.
The Cato Corporation is a leading specialty retailer of value-priced women's fashion apparel operating two divisions, "Cato" and "It's Fashion". The Company offers exclusive merchandise with fashion and quality comparable to mall specialty stores at low prices, every day. As of August 4, 2007, The Cato Corporation operated 1,306 stores in 31 states, compared to 1,259 stores in 31 states as of July 29, 2006. Additional information on The Cato Corporation is available at http://www.catocorp.com/.
Statements in this press release not historical in nature including, without limitation, statements regarding the Company's expected or estimated financial results and any related assumptions 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, the following: general economic conditions; competitive factors and pricing pressures; the Company's ability to predict fashion trends; consumer apparel buying patterns; adverse weather conditions and inventory risks due to shifts in market demand 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, as amended or supplemented, 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.
