RTTNews | May 20, 2021 02:45PM EDT

14:44 Thursday, May 20, 2021 (RTTNews.com) - Shares of fashion apparel retailer The Cato Corp. (CATO) are up 9 percent on Thursday's trading as the company turned to profit in the first quarter and also restored its quarterly dividend.

The company recorded net income of $20.7 million or $0.92 per share in the first quarter, compared to net loss of $28.4 million or $1.19 per share in the last year quarter.

Sales for the three-month period rose 114 percent to $211.2 million from $98.8 million a year ago. Same-store sales were up 111 percent from the same period last year.

The company's Board of Directors also declared a regular quarterly dividend of $0.11 per share. The dividend will be payable on June 21 to shareholders of record on June 7.

CATO is currently trading at $15.53, up $1.31 or 9% on the NYSE.

The stock has traded between $6.07 and $16.03 in the past 52 weeks.

Read the original article on RTTNews ( https://www.rttnews.com/3196491/stock-alert-cato-rises-9-on-q1-profit-reinstated-dividend.aspx)

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