Declares 5.56% increase in common share dividend
GREENSBORO, N.C., April 10 /PRNewswire-FirstCall/ -- Tanger Factory Outlet Centers, Inc.(NYSE:SKT), announced today that its Board of Directors approved a 5.56% increase in the annual dividend on its common shares from $1.44 per share to $1.52 per share. Simultaneously, the Board of Directors declared a quarterly dividend of $.38 per share for the first quarter ended March 31, 2008. A cash dividend of $.38 per share will be payable on May 15, 2008 to holders of record on April 30, 2008. The company has paid dividends each quarter since becoming a public company in May 1993.
The Company's Board of Directors also declared a dividend of $.46875 per share on its 3,000,000 7.5% Class C Preferred Shares. A cash dividend of $.46875 per Preferred Share will be payable on May 15, 2008 to holders of record on April 30, 2008.
Tanger Factory Outlet Centers, Inc. (NYSE:SKT) is a fully integrated, self-administered and self-managed publicly traded REIT. The company currently owns 29 centers in 21 states coast to coast, totaling approximately 8.4 million square feet of gross leasable area. Tanger also owns a 50% interest in two centers containing approximately 667,000 square feet. For more information on Tanger Outlet Centers, visit our web site at http://www.tangeroutlet.com/. DATASOURCE: Tanger Factory Outlet Centers, Inc.
CONTACT: Frank C. Marchisello of Tanger Factory Outlet Centers, Inc., +1-336-834-6834 Web site: http://www.tangeroutlet.com/
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