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Clothing retailer Cato (NYSE: CATO ) announced yesterday its second-quarter dividend of $0.05 per share, the same rate it paid last quarter after paying a special dividend of $1.00 per share in December.
The board of directors said the quarterly dividend is payable on June 24 to holders of record at the close of business on June 10.
The board previously accelerated the full-year 2013 dividend of $1.00 to Dec. 28, 2012. The $0.05 dividend, or $0.20 on an annualized basis, which when coupled with the $1.00 accelerated payout makes for a total annualized rate of $1.20 per share, represents an annualized yield of 4.9%.