Tanger Factory Outlet Centers Brings Back Its Dividend

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Tanger Factory Outlet Centers

reinstated its dividend this week.

But otherwise it was a very light week for dividend increase announcements among large U.S. companies. Some other companies, however, said they would keep their payouts at current levels, including

Starbucks,

Target,

and

Procter & Gamble.

Tanger Factory Outlet Centers (ticker: SKT), a real-estate investment trust, said it plans to pay a disbursement of $17.75 cents a share. It previously paid a quarterly dividend of $35.75 cents a share in May, but the company suspended its distribution after that.

In a news release on Jan. 14, the company’s president and CEO, Stephen Yalof, said the dividend reflected “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.”

The dividend it announced this week is payable on Feb. 12 to common shareholders of record on Jan. 29. The stock has a one-year return of about minus 13%.

Among large U.S. companies, several declared quarterly dividends at current levels. They include Starbucks (SBUX) at 45 cents a share, Target (TGT) at 68 cents a share,

Colgate-Palmolive

(CL) at 44 cents a share, and home builder Lennar (LEN) at 25 cents a share.

Other companies that said they would maintain their dividends included Procter & Gamble (PG) at 79.07 cents a share and

KeyCorp

(KEY) at 18.5 cents a share.

Write to Lawrence C. Strauss at lawrence.strauss@barrons.com