Tanger Factory Outlet Centers, Inc.(NYSE: SKT) announced today that its Board of Directors approved an increase in the annual dividend on its common stock shares from $1.52 per share to $1.53 per share. Simultaneously, the Board of Directors declared a quarterly dividend of $.3825 per share for the first quarter ended March 31, 2009. A cash dividend of $.3825 per share will be payable on May 15, 2009 to holders of record on April 30, 2009. The dividend is yielding 4.69%.
At this time I do not own skt. I do not recommend this stock, currently trading with a P/E of 49.15 P/B of 4.85 times super overpriced. Lots of debt, has gone up approx. 21% this month. I will be staying clear of this stock.
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