ST. LOUIS, Nov. 16 /PRNewswire-FirstCall/ -- CPI Corp. (NYSE: CPY - News) today announced that its Board of Directors declared a fourth quarter cash dividend of 16 cents per share. The dividend will be paid on December 7, 2009 to shareholders of record as of November 30, 2009. As of November 16, 2009, CPI has 7,004,544 common shares outstanding.

CPI is the leading portrait studio operator in North America offering photography services in approximately 3,000 locations in the United States, Puerto Rico, Canada and Mexico, principally in Sears and Wal-Mart stores.