Tanger Inc. 2023 Tax Reporting Information - Distribution (Form 1099)

Rhea-AI Summary

Tanger Inc. (NYSE: SKT) has announced the treatment of its 2023 dividend distributions for income tax purposes. 87.26% of the common shares are classified as ordinary income, and 12.74% as a return of capital. The detailed information for each distribution is provided, including the record date, ex-dividend date, payable date, and total distribution per share. Shareholders are advised to consult their tax advisors for specific treatment.

Insights

Tax Advisor

Understanding the tax treatment of dividend distributions is crucial for shareholders to accurately report income and optimize their tax strategy. In the case of Tanger Inc., the split between ordinary income and return of capital is noteworthy. Ordinary income is taxed at the individual's regular income tax rate, while the return of capital is not immediately taxable. Instead, it reduces the shareholder's cost basis in the stock, potentially deferring taxes until the stock is sold.

For Tanger Inc. shareholders, the higher percentage of ordinary income means a larger portion of the dividend is subject to immediate taxation. This could lead to higher tax bills in the short term. However, the return of capital portion can be beneficial for long-term investors as it may lower future capital gains tax liabilities.

It's imperative for investors to consider their individual tax situations and consult with tax professionals. This ensures dividends are reported correctly and any opportunities for tax-efficient investing are fully utilized.

Financial Analyst

The announcement by Tanger Inc. regarding the tax treatment of its dividends can influence investor perception and the company's stock valuation. Dividends that are largely classified as ordinary income suggest that the company is generating enough profitable revenue to distribute cash to shareholders, which can be a sign of financial health.

However, investors seeking tax-advantaged income might find the 12.74% return of capital less attractive compared to investments with a higher return of capital percentage. This is because the return of capital lowers the taxable income in the year it's received. The financial implications of this distribution structure should be considered in the context of an investor's portfolio strategy and income needs.

Market Research Analyst

From a market perspective, Tanger Inc.'s dividend distributions can be seen as a reflection of its operational performance and commitment to returning value to shareholders. Dividend policies can impact investor sentiment, particularly among income-focused investors such as retirees or those seeking steady cash flows.

The specific breakdown of dividends into ordinary income and return of capital can also affect the attractiveness of Tanger Inc. to different investor classes. For instance, growth-oriented investors might be less concerned with the tax implications of dividends and more with the company's reinvestment strategies and potential for capital appreciation.

GREENSBORO, N.C., Jan. 23, 2024 /PRNewswire/ -- Tanger Inc. (NYSE: SKT) announced today that its 2023 dividend distributions should be treated as follows for income tax purposes.

Common Shares: 87.26% as ordinary income and 12.74% as return of capital

Detailed information regarding each distribution for 2023 is below. Shareholders are encouraged to consult with their personal tax advisors as to their specific tax treatment of the Company's dividend distributions.

Tanger Inc. - Common Stock (Symbol SKT) (CUSIP No. 875465106)
					Totals	% of Annual Total
Record Date	1/31/2023	4/28/2023	7/31/2023	10/31/2023
Ex-Dividend Date	1/30/2023	4/27/2023	7/28/2023	10/30/2023
Payable Date	2/15/2023	5/15/2023	8/15/2023	11/15/2023
Total Distribution Per Share	$0.220000	$0.245000	$0.245000	$0.260000	$0.970000
Amount Included In Shareholders' 2023 Income	$0.220000	$0.245000	$0.245000	$0.260000	$0.970000
Box 1a Total Ordinary Dividends	$0.191972	$0.213787	$0.213787	$0.226876	$0.846422	87.26 %
Box 3 Non Dividend Distributions	$0.028028	$0.031213	$0.031213	$0.033124	$0.123578	12.74 %
Box 5 Section 199A Dividends	$0.191972	$0.213787	$0.213787	$0.226876	$0.846422

 

About Tanger^®

Tanger Inc. (NYSE: SKT) is a leading owner and operator of outlet and open-air retail shopping destinations, with over 43 years of expertise in the retail and outlet shopping industries. Tanger's portfolio of 38 outlet centers and one open-air lifestyle center comprises over 15 million square feet well positioned across tourist destinations and vibrant markets in 20 U.S. states and Canada. A publicly traded REIT since 1993, Tanger continues to innovate the retail experience for its shoppers with over 3,000 stores operated by more than 700 different brand name companies. For more information on Tanger, call 1-800-4TANGER or visit the Company's website at www.tanger.com.

Investor Contact
Doug McDonald
SVP, Finance and Capital Markets
T: (336) 856-6066
tangerir@tanger.com

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SOURCE Tanger

FAQ

What is the treatment of Tanger Inc. (NYSE: SKT) 2023 dividend distributions for income tax purposes?

87.26% of the common shares are classified as ordinary income, and 12.74% as a return of capital.

What are the record dates for Tanger Inc. (NYSE: SKT) 2023 dividend distributions?

The record dates are 1/31/2023, 4/28/2023, 7/31/2023, and 10/31/2023.

What are the ex-dividend dates for Tanger Inc. (NYSE: SKT) 2023 dividend distributions?

The ex-dividend dates are 1/30/2023, 4/27/2023, 7/28/2023, and 10/30/2023.

What are the payable dates for Tanger Inc. (NYSE: SKT) 2023 dividend distributions?

The payable dates are 2/15/2023, 5/15/2023, 8/15/2023, and 11/15/2023.

How much is the total distribution per share for Tanger Inc. (NYSE: SKT) 2023 dividend distributions?

The total distribution per share is $0.220000, $0.245000, $0.245000, and $0.260000.