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J. C. Penney Company, Inc. Board of Directors Declares Quarterly Dividend
Company Holds Annual Meeting of Stockholders

PLANO, Texas, May 20, 2011 /PRNewswire via COMTEX/ --

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 August 1, 2011, to Company stockholders of record at the close of business on July 8, 2011.


In addition, the Company held its Annual Meeting of Stockholders today at its Home Office in Plano, Texas. At the meeting, Company stockholders re-elected all 12 directors for a one-year term, ratified the appointment of KPMG LLP as independent auditor for the fiscal year ending Jan. 28, 2012, and approved amendments to the Company's Restated Certificate of Incorporation and Bylaws to eliminate supermajority voting requirements. On an advisory basis, stockholders also approved the compensation of the Company's named executive officers and recommended holding future advisory votes on executive compensation annually.

For further information, contact:

Investor Relations
Kristin Hays and Angelika Torres; (972) 431-5500;

Media Relations
Darcie Brossart and Rebecca Winter; (972) 431-3400

Corporate Website

About J. C. Penney Company, Inc.

J. C. Penney Company, Inc., one of America's leading retailers, operates over 1,100 jcpenney department stores throughout the United States and Puerto Rico, as well as one of the largest apparel and home furnishing sites on the Internet, Serving more than half of America's families each year, the jcpenney brand offers a wide array of private,p exclusive and national brands which reflect the Company's vision to be America's shopping destination for discovering great styles at compelling prices. Traded as "JCP" on the New York Stock Exchange, the $17.8 billion retailer is transforming its organization to support its Long Range Plan strategies to build a sustainable, profitable enterprise that serves its customers, engages its associates and rewards its shareholders. For more information, visit

SOURCE J. C. Penney Company, Inc.

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