Tanger Factory Outlet Centers Will Be a High-Yielding REIT in 2021
Tanger Factory Outlet Centers (NYSE: SKT) is profitable again, and that's naturally going to turn the market's attention to when its once bountiful quarterly distributions will resume. The operator of 38 upscale outlet shopping centers suspended its dividend in May, but last week it suggested that the payouts will return again next year.
As a real estate investment trust -- or REIT -- Tanger is required to distribute at least 90% of its taxable income to its stakeholders. The discount mall operator argues that it paid enough through the first half of this year to comply with REIT payout requirements, disbursing $0.355 a share in January and another $0.358 a share in April. However, Tanger is evaluating future distributions on a quarterly basis. It's also committing to continuing as a REIT, so if it can remain profitable at this point the distributions should return us as early as Tanger's next quarterly report.
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Source Fool.com
