GREENSBORO, N.C. (AP) -- Tanger Factory Outlet Centers Inc. said Thursday that its board increased the company's annual dividend by 6 cents, or 7 percent, to 90 cents.
The factory outlet mall operator also said the board declared a quarterly dividend of 22.5 cents for the quarter ended March 31. That dividend will be paid on May 15 to shareholders of record as of April 30.
Tanger, based in Greensboro, N.C., has 43 outlet shopping centers in 26 states across the country.
Its shares rose 9 cents to $36.29 in morning trading. That is near the high end of their 52-week range of $28.94 to $36.48.