Tanger Increases Dividend by 9.6%

Rhea-AI Summary

Tanger Factory Outlet Centers, Inc. (NYSE:SKT) announced a 9.6% increase in its annual dividend from $0.73 to $0.80 per share. The Board declared a quarterly cash dividend of $0.20 per share, payable on May 13, 2022, to shareholders on record as of April 29, 2022. This dividend increase highlights the company’s commitment to returning value to its shareholders and reflects confidence in its ongoing performance.

Positive

• 9.6% increase in annual dividend from $0.73 to $0.80 per share.
• Quarterly cash dividend of $0.20 per share demonstrates strong financial performance.
• Total of 36 centers with over 2,600 stores, indicating a robust operational portfolio.

Negative

• None.

GREENSBORO, N.C., April 11, 2022 /PRNewswire/ -- Tanger Factory Outlet Centers, Inc. (NYSE:SKT), a leading operator of upscale open-air outlet centers, announced today that its Board of Directors approved a 9.6% increase in the annual dividend on its common shares from $0.73 per share to $0.80 per share. Simultaneously, the Board of Directors declared a quarterly cash dividend of $0.20 per share, payable on May 13, 2022, to common shareholders of record on April 29, 2022.  

About Tanger Factory Outlet Centers, Inc.  

Tanger Factory Outlet Centers, Inc. (NYSE: SKT) is a leading operator of upscale open-air outlet centers that owns, or has an ownership interest in, a portfolio of 36 centers. Tanger's operating properties are located in 20 states and in Canada, totaling approximately 13.6 million square feet, leased to over 2,600 stores operated by more than 600 different brand name companies. The Company has more than 41 years of experience in the outlet industry and is a publicly-traded REIT. For more information on Tanger Outlet Centers, call 1-800-4TANGER or visit the Company's website at www.tangeroutlets.com. 

Investor Contact  

Doug McDonald 
SVP, Finance and Capital Markets 
T: (336) 856-6066 
doug.mcdonald@tangeroutlets.com  

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SOURCE Tanger Factory Outlet Centers, Inc.

FAQ

What is the new annual dividend per share for SKT?

The new annual dividend per share for SKT is $0.80.

When is the next dividend payment date for SKT?

The next dividend payment date for SKT is May 13, 2022.

What was the previous dividend per share before the increase?

The previous dividend per share before the increase was $0.73.

What percentage increase was approved for SKT's dividend?

The dividend was increased by 9.6%.

Who is eligible to receive the dividend from SKT?

Shareholders on record as of April 29, 2022, are eligible to receive the dividend.