Tanger (SKT) hikes dividend by 6.4%
Fourth consecutive year of increases | Dividend yield 3.7%
Tanger Inc. SKT 0.00%↑ , formerly known as Tanger Factory Outlet Centers, has announced a 6.4% increase in its quarterly dividend. The new dividend will be $0.2925 per share, up from $0.275 per share, bringing the annualized dividend to $1.17 per share. The dividend will be paid on May 15, 2025, to shareholders of record on April 30, 2025. The dividend yield is 3.7%.
Tanger Inc., a Real Estate Investment Trust (REIT) headquartered in Greensboro, North Carolina, owns and operates a portfolio of upscale outlet shopping centers. The company’s properties span over 16 million square feet across 38 outlet centers, one adjacent managed center, and three open-air lifestyle centers. These locations are strategically positioned in 21 U.S. states and Canada, primarily in tourist destinations and vibrant markets.
Since becoming a public company in May 1993, Tanger has consistently paid quarterly dividends, with an unbroken record of dividend increases until the brief suspension in 2020 due to the COVID-19 pandemic, which ended a streak of 27 consecutive years of dividend hikes. Last year, the company raised its dividend by 5.8%, and now, with this 6.4% increase, it continues to demonstrate financial strength.
Stephen Yalof, President and CEO of Tanger Inc., commented, “We are pleased to be increasing our dividend supported by our well-positioned balance sheet, low dividend payout ratio, and strength of our operating platform.”
With over 3,000 stores from more than 700 different brand-name companies, Tanger remains a key player in the retail sector, offering both investors and shoppers a stable and vibrant outlet shopping experience.
This latest dividend increase underscores Tanger’s ongoing commitment to shareholder value while maintaining a strong and sustainable financial foundation.
Disclaimer: The information provided here is for informational purposes only and should not be considered financial advice. Investors should conduct their own research or consult with a financial advisor before making any investment decisions.