THE CATO CORPORATION ANNOUNCES REGULAR QUARTERLY DIVIDEND

CHARLOTTE, N.C., May 20, 2022/PRNewswire/ -- The Board of Directors of The Cato Corporation (NYSE: CATO) declared a regular quarterly dividend of $0.17 per share. The dividend will be payable on June 27, 2022 to shareholders of record on June 13, 2022.

The $0.17 dividend, or $0.68 on an annualized basis, represents an annualized yield of 5.4% at the closing market price on May 19, 2022.

The Cato Corporation is a leading specialty retailer of value-priced fashion apparel and accessories operating three concepts, "Cato," "Versona" and "It's Fashion." The Company's Cato stores offer exclusive merchandise with fashion and quality comparable to mall specialty stores at low prices every day. The Company also offers exclusive merchandise found in its Cato stores at www.catofashions.com. Versona is a unique fashion destination offering apparel and accessories including jewelry, handbags and shoes at exceptional prices every day. Select Versona merchandise can also be found at www.shopversona.com. It's Fashion offers fashion with a focus on the latest trendy styles for the entire family at low prices every day.

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SOURCE The Cato Corporation

Charles D. Knight, Executive Vice President, Chief Financial Officer, [email protected]