J. C. Penney Company Inc announced that its Board of Directors declared a quarterly dividend of $0.20 per share on the Company's common stock. The dividend is payable Aug. 1, 2008, to Company stockholders of record at the close of business on July 10, 2008.
In addition, JCPenney held its Annual Meeting of Stockholders at the Company's Home Office in Plano, Texas. At the meeting, Company stockholders re-elected nine directors for a one-year term and ratified the appointment of KPMG LLP as independent auditor for the fiscal year ending Jan. 31, 2009.
In other business, stockholders approved a non-binding proposal regarding stockholder approval of certain severance agreements with senior executives.
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