Tanger Factory Outlet Centers (SKT) will raise its quarterly dividend by 0.7 percent to $0.3575 per share in the first quarter of 2020.

This marks the 27th consecutive year of dividend increases for the real estate investment trust.

The next dividend will be payable on May 15, 2020 to holders of record on April 30, 2020. A new annual dividend rate of $1.43 per share yields 9.1% at a stock price of $14.72.

Tanger Factory Outlet Centers, Inc. is a REIT headquartered in Greensboro, North Carolina that operates and owns, or has an ownership interest in, a portfolio of upscale outlet shopping centers. Tanger's operating properties are located in more than 20 states coast to coast and in Canada. Since becoming a public company in May 1993, the Company has paid a cash dividend each quarter and has increased its dividend each year.