Tanger Factory Outlet Centers Hikes Dividend By 6%
Portfolio Pulse from Shivani Kumaresan
Tanger Factory Outlet Centers Inc (SKT) has announced a 6.1% increase in its annual dividend from $0.98 to $1.04 per share. The company's Board also declared a quarterly cash dividend of $0.26 per share, payable on November 15, 2023. The company is set to report its Q3 FY23 earnings on November 6, 2023. As of June 30, 2023, the company held cash and equivalents of $233.8 million.
October 13, 2023 | 2:05 pm
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NEUTRAL IMPACT
Tanger Factory Outlet Centers (SKT) has increased its annual dividend by 6.1%, which could make the stock more attractive to income-focused investors. However, the stock is currently trading lower.
Dividend increases are generally seen as a positive signal by the market, indicating a company's confidence in its future earnings. However, the stock is currently trading lower, which could be due to other market factors or investor sentiment. Therefore, the short-term impact on the stock price is neutral.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100