Cato Corp (NYSE:CATO) announced a quarterly dividend on Friday, August 30th, NASDAQ reports. Stockholders 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 dividend on an annualized basis and a dividend yield of 7.57%. The ex-dividend date of this dividend is Friday, September 13th.
Cato has increased its dividend payment by an average of 3.2% annually over the last three years. Cato has a payout ratio of 377.1% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments.
Shares of CATO traded up $0.74 during trading hours on Wednesday, reaching $17.43. 178,468 shares of the company’s stock traded hands, compared to its average volume of 238,245. Cato has a 12 month low of $11.85 and a 12 month high of $22.19. The company has a current ratio of 2.06, a quick ratio of 1.50 and a debt-to-equity ratio of 0.36. The stock has a market cap of $417.04 million, a PE ratio of 12.20 and a beta of 0.44. The firm’s 50 day simple moving average is $14.87 and its 200-day simple moving average is $14.07.
Separately, ValuEngine cut Cato from a “hold” rating to a “sell” rating in a report on Friday, May 24th.
Cato Company Profile
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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