The Cato Corporation (CATO) 8-K Results of Operations and Financial Condition

8100 Denmark Road

P.O.Box 34216

Charlotte, NC28234

(704) 554-8510

EXHIBIT 99.2

The CATO Corporation

NEWS RELEASE

FOR IMMEDIATE RELEASE

For Further Information Contact:

John R. Howe

Executive Vice President

Chief Financial Officer

704-551-7315

THE CATO CORPORATIONANNOUNCES RESUMPTION OF QUARTERLY DIVIDEND

CHARLOTTE, N.C. (May 20, 2021)

–– The Board of Directors of The Cato Corporation (NYSE:

CATO)declared a regular quarterly dividend of $0.11 per share.The dividend will be payable on

June 21, 2021 to shareholders of record on June 7, 2021.

The $0.11 dividend, or$0.44 on an annualized basis, represents an annualized yield of 3.1% at the

closing market price on May 19, 2021.

The Cato Corporation is a leading specialtyretailer of value-priced fashion apparel and accessories

operating three concepts, “Cato,” “Versona” and “It’sFashion.”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 appareland accessories

including jewelry, handbags andshoes at exceptional prices every day.SelectVersona 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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