Cato Fashions announces quarterly dividend

The board of directors of the Cato Corporation has declared a regular quarterly dividend of 33 cents per share payable on March 26, 2019 to shareholders of record on March 11, 2019. The 33 cents dividend or 1.32 dollars on an annualized basis, the company said in a statement, represents an annualized yield of 8 percent at the closing market price on February 28, 2019.

While announcing its trading results for January 2019, the company said sales for fourth quarter were 190.4 million dollars, a decrease of 10 percent, while on a comparable 13-week basis, total sales for the quarter decreased 3 percent and same-store sales decreased 2 percent from last year. For the year, the company's sales decreased 3 percent to 821.2 million dollars from 2017 sales of 842.1 million dollars. On a comparable 52-week basis, total sales for the year decreased 1 percent and same-store sales were flat to last year.

Picture:Facebook/Cato Fashions