By Colin Kellaher
Tanger Factory Outlet Centers Inc. on Tuesday said its board raised the quarterly dividend by 10% to 22 cents a share.
The new payout, equal to 88 cents a year, represents an annual yield of about 5.97% based on Monday’s closing price of $14.73, up from about 5.43%.
The Greensboro, N.C., real-estate investment trust focused on outlet shopping centers said the increased dividend is payable Nov. 15 to shareholders of record Oct. 31.
Tanger recorded earnings of 19 cents a share on revenue of $105.8 million in the second quarter, up from 2 cents a share on revenue of $101.3 million a year earlier.
Write to Colin Kellaher at [email protected]
