CHARLOTTE, N.C., May 20 /PRNewswire-FirstCall/ -- The Cato Corporation (NYSE: CTR) announced today that its Board of Directors declared a regular quarterly dividend of $0.165 per share. The dividend will be payable on June 22, 2009 to shareholders of record of the Corporation at the close of business on June 8, 2009. At the closing market price on May 19, 2009, the current dividend represents an annualized yield of 3.5%.

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's Cato division offers exclusive merchandise with fashion and quality comparable to mall specialty stores at low prices every day. The It's Fashion division offers fashion with a focus on the latest trendy styles and nationally recognized urban brands for the entire family at low prices every day. As of May 2, 2009, the Company operated 1,285 stores in 31 states. Additional information on The Cato Corporation is available at www.catocorp.com.

SOURCE The Cato Corporation