Tanger (SKT) Shares Soar 7.28% on Dividend Hike

Tanger (SKT) shares surged by 7.28% today, marking a significant rebound after the stock price plummeted to its lowest level since August 2024, with an intraday decline of 3.82%.

Tanger's recent dividend increase has been a key driver of its stock price movement. The company announced a 6.4% increase in its annual dividend, raising it from $1.10 to $1.17 per share. This increase is backed by Tanger's robust balance sheet, low dividend payout ratio, and a strong operating platform. The new quarterly cash dividend of $0.2925 per share will be payable on May 15, 2025, to shareholders of record on April 30, 2025. This financial development is likely to boost investor confidence and positively impact the stock price.