Tanger Increases Dividend by 10%

Rhea-AI Summary

Tanger Factory Outlet Centers, Inc. (NYSE:SKT) announced a significant 10% increase in its annual dividend, raising it from $0.80 to $0.88 per share. A quarterly cash dividend of $0.22 per share will be paid on November 15, 2022, to shareholders of record by October 31, 2022. This increase reflects the company's financial strength and commitment to returning value to shareholders. Tanger operates 37 outlet centers across 20 states and Canada, totaling approximately 14.0 million square feet of retail space.

Positive

• 10% increase in annual dividend from $0.80 to $0.88 per share.
• Quarterly cash dividend of $0.22 per share payable on November 15, 2022.
• Demonstrates financial strength and shareholder value commitment.

Negative

• None.

GREENSBORO, N.C., Oct. 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 10% increase in the annual dividend on its common shares from $0.80 per share to $0.88 per share. Simultaneously, the Board of Directors declared a quarterly cash dividend of $0.22 per share, payable on November 15, 2022 to common shareholders of record on October 31, 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) and/or manages a portfolio of 37 centers with an additional center currently under development. Tanger's operating properties are located in 20 states and in Canada, totaling approximately 14.0 million square feet, leased to over 2,700 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
tangerir@tangeroutlets.com

 

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SOURCE Tanger Factory Outlet Centers, Inc.

FAQ

What is the new dividend amount for SKT?

The new annual dividend for SKT is $0.88 per share.

When is the dividend payable for SKT?

The dividend is payable on November 15, 2022.

What is the frequency of dividends for Tanger Factory Outlet Centers?

Tanger Factory Outlet Centers typically pays dividends quarterly.

What was the previous dividend amount before the increase?

The previous dividend amount was $0.80 per share.

Who qualifies for the SKT dividend?

Shareholders of record as of October 31, 2022, qualify for the dividend.