On October 11, 2022, Tanger Factory Outlet Centers (SKT) announced its second dividend hike this year with a new quarterly dividend of 22 cents per share (+10%). This brings the total dividend growth for 2022 to 20.5% for the REIT if we include the 9.6% dividend hike already announced this April.
The next SKT dividend is payable on November 15, 2022 to common shareholders of record on October 31, 2022. A new annual dividend rate of $0.88 per share will yield 5.5% at a stock price of $16.34 for Tanger Factory Outlet Centers.
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 had paid a cash dividend each quarter and has increased its dividend each year. In 2020 the dividend was suspended because of the COVID-19 pandemic, ending a record of 27 consecutive years of dividend increases.