TANGER INC. - SKT STOCK NEWS

Tanger Factory Outlet Centers, Inc. (NYSE: SKT) announced that its 2020 dividend distributions will be treated as 100% ordinary income for tax purposes. Shareholders received a total of $0.7125 per share in dividends for the year. The distributions were paid for two record dates: January 31 and April 30, 2020, with corresponding ex-dividend dates of January 30 and April 29, 2020. The company advises shareholders to consult their tax advisors regarding specific tax treatments of these distributions.

Tanger Factory Outlet Centers, Inc. (NYSE: SKT) has declared a cash dividend of $0.1775 per share, payable on February 12, 2021, to shareholders of record on January 29, 2021. The announcement reflects the company's strong liquidity position, with over $80 million in cash and $600 million in undrawn lines of credit. This dividend aims to meet minimum taxable income distribution requirements for maintaining REIT status.

Tanger Factory Outlet Centers (NYSE:SKT) reported significant liquidity updates on January 11, 2021. As of January 6, liquidity surpassed $680 million, with over $80 million in cash and $600 million in unused credit lines. The company noted that rent collections exceeded 90% for Q4 2020, and traffic was at approximately 90% of prior year levels. Portfolio occupancy stood at 91.9% as of December 31, 2020, despite tenant bankruptcies. A voluntary early retirement plan was initiated, incurring a $2.3 million charge. CEO Stephen Yalof will discuss updates at the ICR Conference.

Tanger Factory Outlet Centers (NYSE: SKT) has announced that CEO Stephen Yalof will participate in a fireside chat at the 23rd Annual ICR Conference on January 11, 2021, starting at 10:30 am EST. A live webcast of the event will be accessible through their Investor Relations website. Tanger operates 38 outlet centers across 20 states and Canada, encompassing approximately 14.1 million square feet leased to over 2,700 stores.

Tanger Factory Outlets (NYSE: SKT) announced an executive succession plan effective January 1, 2021. Steven B. Tanger transitions to Executive Chair after 36 years, while Stephen Yalof takes over as CEO. Under Tanger's leadership, the company expanded from 7 centers to 38 in the U.S. and Canada, covering 14.1 million square feet. Yalof, previously President and COO, has extensive retail experience, including leading Simon Premium Outlets. The transition marks a strategic move to adapt to the evolving retail landscape.

Tanger Factory Outlet Centers (NYSE: SKT) has appointed Deanna Dancy as Vice President of Field Marketing, effective immediately. Dancy, who has over 25 years of experience in the real estate industry, previously served as Senior Vice President at Simon Property Group. Her role at Tanger will focus on developing marketing strategies to enhance traffic, sales, and profitability at Tanger locations through various promotional avenues. The company also announced seven internal promotions within its marketing and operations teams.

Tanger Factory Outlet Centers (NYSE: SKT) announced a partnership with Delivering Good to aid families in need this holiday season. They will sell limited edition "Goodness Gives" beanies at Tanger centers across the U.S. for $15, with $10 from each sale going to Delivering Good. Additionally, Tanger is donating at least 1,000 hats to various nonprofit partners. This initiative aims to support those impacted by poverty, particularly during the COVID-19 pandemic, and underscores Tanger's commitment to corporate social responsibility.

Tanger Factory Outlet Centers (NYSE: SKT) has partnered with LugLess to facilitate holiday shopping by allowing customers to ship purchases directly from stores to any domestic address. This service, called Shop. Ship. Smile, aims to enhance the overall shopping experience by eliminating the need for additional trips to the post office. Launching at the National Harbor location on November 20, 2020, the program offers complimentary shipping supplies and personalized letters for gifts, showcasing a commitment to innovative customer service.

Tanger Factory Outlet Centers (NYSE: SKT) announced that its management team will present at the Nareit's REITworld 2020 Virtual Annual Conference on November 18th at 8:45 am EST. Registration for the conference is complimentary and available on the REITworld website. Additionally, the latest management presentation can be accessed on Tanger's Investor Relations website.