Shares of Tanger Factory Outlet Centers Inc. SKT, +0.40% rose 0.6% in premarket trading Tuesday, after the operator of open-air outlet centers said it will raised its quarterly dividend by 10%, to 22cents a share from 20 cents a share. Shareholders of record on Oct. 31 will be paid the dividend on Nov. 15. Based on Monday’s stock closing price of $14.73, the new annual dividend rate implies a dividend yield of 5.97%, which compares with the implied yield for the S&P 500 SPX, -0.79% of 1.83%. Tanger Factory’s stock has tacked on 0.8% over the past three months while the S&P 500 has lost 6.3%.
