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General - Notes to Financial Statements
3 Months Ended
Nov. 02, 2013
General Dsiclosure [Abstract]  
Summary of Significant Account Policies

 

NOTE 1 - GENERAL:

 

The condensed consolidated financial statements have been prepared from the accounting records of The Cato Corporation and its wholly-owned subsidiaries (the “Company”), and all amounts shown as of and for the three and nine month periods ended November 2, 2013 and October 27, 2012 are unaudited. In the opinion of management, all adjustments considered necessary for a fair statement have been included. All such adjustments are of a normal, recurring nature unless otherwise noted. The results of the interim period may not be indicative of the results expected for the entire year.

 

The interim financial statements should be read in conjunction with the consolidated financial statements and notes thereto, included in the Company's Annual Report on Form 10-K for the fiscal year ended February 2, 2013. Amounts as of February 2, 2013 have been derived from the audited balance sheet, but do not include all disclosures required by accounting principles generally accepted in the United States of America.

 

On November 26, 2013, the Board of Directors maintained the quarterly dividend at $0.05 per share. The Board of Directors previously accelerated the payment of the full fiscal year 2013 dividend of $1.00 on December 28, 2012 and increased the dividend $0.20 per share on an annualized basis during the first quarter.