Shopping center REIT Tanger Factory Outlet Centers announced yesterday its second-quarter dividend of $0.225 per share, the same rate it paid last quarter after raising the payout 7%, from $0.21 per share.
The board of directors said the quarterly dividend is payable on Aug. 15 to the holders of record at the close of business on July 30. The REIT has made quarterly payouts to investors since 1993 when it became a publicly traded company. It has increased the dividend annually since then.
The regular dividend payment equates to a $0.90-per-share annual dividend, yielding 2.6% based on the closing price of Tangers' stock on July 11.
Copyright © 2009 The Motley Fool, LLC. All rights reserved.