CATO - Cato  declares $0.17 dividend increases buyback program by 1M shares

Cato  (NYSE:CATO) declares $0.17/share quarterly dividend, in line with previous. Forward yield 4.02% Payable April 4; for shareholders of record March 22; ex-div March 21. The company also authorized a 1M share increase in the company's share repurchase program. Prior to this authorization, the company had approximately 379K shares remaining in open authorizations. John Cato, the Company's Chairman, President and Chief Executive Officer, commented that, "We believe the increase in our stock repurchase program will be beneficial to Cato and continues our focus on enhancing the value of our long-term shareholders' investment.  The Company's substantial cash reserves enable the Company to opportunistically repurchase these shares and maintain the financial flexibility to pay regular dividends, while also allowing investments in infrastructure and growth initiatives." See CATO Dividend Scorecard, Yield Chart, & Dividend Growth.

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Cato  declares $0.17 dividend, increases buyback program by 1M shares