Tanger Factory Outlet Centers Increases Dividend by 6.4% Amid Strong Performance
- Tanger Factory Outlet Centers raises annual dividend by 6.4%, increasing it from $1.10 to $1.17 per share.
- The company operates 38 outlet centers and over 3,000 stores across 21 U.S. states and Canada.
- Tanger focuses on innovative retail experiences and enhancing shareholder value amid evolving market dynamics.
Tanger Factory Outlet Centers Boosts Dividend Amid Strong Operational Performance
Tanger Factory Outlet Centers, a leading owner and operator of retail shopping destinations, announces a notable 6.4% increase in its annual dividend, raising it from $1.10 to $1.17 per share. This decision reflects the company's strong financial health, underscored by its robust balance sheet and a low dividend payout ratio, as highlighted by President and CEO Stephen Yalof. The declaration of a quarterly cash dividend of $0.2925 per share, set for payment on May 15, 2025, demonstrates Tanger's commitment to returning value to its shareholders. The dividend will benefit shareholders on record by April 30, 2025, reinforcing the company’s solid standing in a competitive retail landscape.
With over 44 years of experience in the retail sector, Tanger operates a diverse portfolio that includes 38 outlet centers, one adjacent managed center, and three open-air lifestyle centers, collectively offering more than 16 million square feet of retail space across 21 U.S. states and Canada. The company has established itself as a prominent player in the outlet retail market, hosting over 3,000 stores from more than 700 brand-name companies. This extensive network not only enhances Tanger's visibility but also positions it as a critical destination for consumers seeking value-driven shopping experiences.
The announcement comes at a time when the retail industry is undergoing significant transformations due to changing consumer behaviors and economic pressures. Tanger remains committed to innovating the retail experience, focusing on enhancing customer engagement and adapting to the evolving market dynamics. The company's emphasis on operational excellence and strategic growth ensures that it remains a competitive force in the outlet shopping sector, even as it navigates the uncertainties and risks inherent in the retail landscape.
In addition to the dividend increase, Tanger's forward-looking statements point to its proactive approach to business strategies and financial performance. While the company expresses optimism regarding its future, it also advises stakeholders to consider the potential risks involved. As Tanger continues to adapt and thrive in a challenging retail environment, its commitment to enhancing shareholder value remains clear. For further information, interested parties can explore Tanger's offerings and updates on their official website.