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J. C. Penney Company, Inc. Declares Quarterly Dividend

PLANO, Texas--(BUSINESS WIRE)--Mar. 26, 2009-- J. C. Penney Company, Inc. (NYSE:JCP) announced that its Board of Directors declared a quarterly dividend on the Company’s common stock of $0.20 per share. The dividend is payable May 1, 2009, to Company stockholders of record at the close of business on April 9, 2009.

About JCPenney

JCPenney is one of America's leading retailers, operating 1,101 department stores throughout the United States and Puerto Rico, as well as one of the largest apparel and home furnishing sites on the Internet, jcp.com, and the nation's largest general merchandise catalog business. Through these integrated channels, JCPenney offers a wide array of national, private and exclusive brands which reflect the Company's commitment to providing customers with style and quality at a smart price. Traded as "JCP" on the New York Stock Exchange, the Company posted revenue of $18.5 billion in 2008 and is executing its strategic plan to be the growth leader in the retail industry. Key to this strategy is JCPenney's "Every Day Matters" brand positioning, intended to generate deeper, more emotionally driven relationships with customers by fully engaging the Company's approximately 150,000 Associates to offer encouragement, provide ideas and inspire customers every time they shop with JCPenney.

Source: J. C. Penney Company, Inc.

J. C. Penney Company, Inc.
Investor Relations:
Phil Sanchez, 972-431-5575
psanc3@jcpenney.com
or
Kristin Hays, 972-431-1261
klhays@jcpenney.com
or
Media Relations:
Darcie Brossart or Quinton Crenshaw, 972-431-3400
jcpcorpcomm@jcpenney.com
or
Corporate Website:
www.jcpenney.net