Cato board declares quarterly dividend of 16.5 cent per share to be paid Jan. 4

Cato declares 16.5 cent quarterly dividend

CHARLOTTE, N.C. — Cato Corp., which sells low-priced women’s clothes at stores in the southern U.S., said Friday its board declared a regular dividend of 16.5 cents per share.

The company, based in Charlotte, N.C., said it will be paid Jan. 4 to shareholders of record as of Dec. 21.

Its shares rose 89 cents, or 4.8 percent, to $19.56 Friday.