Cato Corp: Hits 1-yr high on dividend resumption, strong Q1 sales

Cato

20/05/2021 18:17

** Apparel and accessories retailer's shares  CATO.N  rise
as much as ~13% to touch one-year high of $16.01
    ** Set to add to its YTD gains of 48%
    ** Says will resume qtrly dividend of 11 cents/share
    ** Q1 sales doubled to $211.2 mln, largely benefiting from
stimulus funds  urn:newsml:reuters.com:*:nPn5mv6HFa
    ** CATO says remains "cautiously optimistic" about rest of
year as customer traffic improves, COVID-19 curbs ease following
vaccinations
    ** CATO currently trading above its 50-DMA, 150-DMA and
200-DMA price 

 (Reporting by Ankur Banerjee)