Cato Corp (CATO) to Issue Quarterly Dividend of $0.33 on September 30th

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Cato Corp (NYSE:CATO) declared a quarterly dividend on Friday, August 30th, NASDAQ reports. Investors of record on Monday, September 16th will be paid a dividend of 0.33 per share by the specialty retailer on Monday, September 30th. This represents a $1.32 annualized dividend and a dividend yield of 7.57%. The ex-dividend date is Friday, September 13th.

Cato has raised its dividend by an average of 3.2% per year over the last three years. Cato has a dividend payout ratio of 377.1% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments.

Shares of NYSE:CATO traded up $0.74 on Wednesday, hitting $17.43. The company had a trading volume of 180,633 shares, compared to its average volume of 238,245. The company has a current ratio of 2.06, a quick ratio of 1.50 and a debt-to-equity ratio of 0.36. Cato has a 52-week low of $11.85 and a 52-week high of $22.19. The business has a 50 day moving average of $14.87 and a 200 day moving average of $14.07. The company has a market cap of $417.04 million, a PE ratio of 12.20 and a beta of 0.44.

Cato (NYSE:CATO) last posted its quarterly earnings data on Thursday, August 22nd. The specialty retailer reported $0.48 EPS for the quarter. The business had revenue of $212.58 million for the quarter. Cato had a return on equity of 10.32% and a net margin of 4.08%.

Separately, ValuEngine cut shares of Cato from a “hold” rating to a “sell” rating in a research note on Friday, May 24th.

About Cato

The Cato Corporation, together with its subsidiaries, operates as a specialty retailer of fashion apparel and accessories primarily in the southeastern United States. It operates through two segments, Retail and Credit. The company's stores and e-commerce Websites offer a range of apparel and accessories, including dressy, career, and casual sportswear; and dresses, coats, shoes, lingerie, costume jewelry, and handbags, as well as men's wear, and lines for kids and infants.

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Dividend History for Cato (NYSE:CATO)

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