jcpenney Board of Directors Declares Quarterly Dividend

PLANO, Texas, March 24, 2011/PRNewswire/ -- J. C. Penney Company, Inc. announced that its Board of Directors declared a quarterly dividend on the Company's common stock of $0.20 per share. The dividend is payable May 2, 2011, to Company stockholders of record at the close of business on April 8, 2011.

(Logo: https://photos.prnewswire.com/prnh/20110222/DA51975LOGO)

About J. C. Penney Company, Inc.

J. C. Penney Company, Inc., one of America's leading retailers, operates over 1,100 jcpenney department stores throughout the United States and Puerto Rico, as well as one of the largest apparel and home furnishing sites on the Internet, jcp.com. Serving more than half of America's families each year, the jcpenney brand offers a wide array of private, exclusive and national brands which reflect the Company's vision to be America's shopping destination for discovering great styles at compelling prices. Traded as "JCP" on the New York Stock Exchange, the $17.8 billion retailer is transforming its organization to support its Long Range Plan strategies to build a sustainable, profitable enterprise that serves its customers, engages its associates and rewards its shareholders. For more information visit, www.jcpenney.net.

For further information, contact:

Investor Relations
Kristin Hays and Angelika Torres; [phone]
[e-mail]


Media Relations
Darcie Brossart and Rebecca Winter; [phone]
[e-mail]

Corporate Website
www.jcpenney.net

Photo: https://photos.prnewswire.com/prnh/20110222/DA51975LOGO
PRN Photo Desk, [e-mail]

J. C. Penney Company, Inc.

Web site: http://www.jcpenney.net/