8100 Denmark Road

P.O. Box 34216

Charlotte, NC 28234

(704) 554-8510

EXHIBIT 99.1

The CATO Corporation

NEWS RELEASE

FOR IMMEDIATE RELEASE

For Further Information Contact:

 John R. Howe

 Executive Vice President

 Chief Financial Officer

 InvestorRelations@catocorp.com

THE CATO CORPORATION ANNOUNCES A 55% INCREASE IN QUARTERLY DIVIDEND

CHARLOTTE, N.C. (August 27, 2021)

 –– 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

September 27, 2021 to shareholders of record on September 13, 2021. 

The $0.17 dividend, or $0.68 on an annualized basis, is an increase of 55% above the current

dividend of $0.44, and represents an annualized yield of 4.1% at the closing market price on August

26, 2021.

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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