Yesterday, April 12 the Board of Directors of Tanger Factory Outlet Centers, Inc. announced a quarterly dividend increase of from $ 0.3425 to $ 0.35 per share that’s payable May 15, 2018 to holders of record April 30, 2018. This represents a 2.19% increase to regular quarterly dividends. With current price $ 22.64 (yesterday's close), this raise brings their dividend yield to 6.18%.
Since becoming a public company in May 1993, the Company
has paid a cash dividend each quarter and has increased its dividend each year.
During the first quarter of 2018, Tanger repurchased
approximately 444,000 of its common shares at a weighted average price of
$22.52 per share for total consideration of approximately $10 million.
The Company's $125 million share repurchase authorization is valid through May
2019 and currently has $65.7 million remaining for future share
repurchases.
Since I own 150 shares of SKT, this will increase my
portfolio's projected annual net dividend income by $ 3.35.
That increase rises my YOC to 5.65%.
Click here to see my portfolio holdings.
You can follow the development of my dividends here.
Full Disclosure: Long SKT
Thanks for stopping by!
Looks like a good stock for my watch list. Tom
ReplyDeleteDrove past a Tanger outlet mall today. I did not realize their dividend increase streak was that long. Thanks for sharing.
ReplyDeleteBert