Tanger Factory Outlets Reinstates Dividend; Yield Is 5.5%
After a nearly nine-month suspension, the quarterly dividend paid by Tanger Factory Outlets (NYSE: SKT) is coming back. The retail real estate investment trust (REIT) announced Thursday that it is reinstating its payout with a nearly $0.18 per share disbursement. This will be paid on Feb. 12 to investors of record as of Jan. 29.
At the most recent closing stock price, that dividend would yield 5.5%.
The company said in the press release heralding the reinstatement that it "reflects Tanger's strong liquidity position, with more than $80 million of cash on hand and $600 million of undrawn lines of credit, and the Board's confidence in our business, as demonstrated by the positive traffic and rent collections trends we recently reported."
Source Fool.com
