Tanger Increases Dividend for 8th Consecutive Year

Apr 12, 2001, 01:00 ET from Tanger Factory Outlet Centers, Inc.

    GREENSBORO, N.C., April 12 /PRNewswire/ --
     Tanger Factory Outlet Centers, Inc. (NYSE:   SKT), announced today that its
 Board of Directors approved an increase in its dividend on common shares from
 $.6075 per share to $.61 per share for the first quarter ended March 31, 2001.
 A cash dividend of $.61 per share will be payable on May 15, 2001 to holders
 of record on April 30, 2001 on its 7,918,911 common shares outstanding and on
 3,033,305 Limited Partnership Units of Tanger Properties Limited Partnership.
     The Company's Board of Directors also approved a dividend increase from
 $.5474 per share to $.5496 per share on its 805,997 Depositary Shares
 representing its outstanding Series A Cumulative Convertible Redeemable
 Preferred Shares.  A cash dividend of $.5496 per Depositary Share will be
 payable on May 15, 2001 to holders of record on April 30, 2001.
     The Company has paid dividends each quarter since it became a publicly
 traded company in May 1993.  Tanger Factory Outlet Centers, Inc., (NYSE:   SKT)
 a publicly-traded REIT, presently owns and operates 29 shopping centers in 20
 states coast to coast, totaling approximately 5.3 million square feet leased
 to over 1,000 stores operated by over 240 different brand name companies.  As
 of March 31, 2001, Tanger's existing centers were 95% occupied.  For more
 information on Tanger Outlet Centers, visit our web site at
 www.tangeroutlet.com.
 
 

SOURCE Tanger Factory Outlet Centers, Inc.
    GREENSBORO, N.C., April 12 /PRNewswire/ --
     Tanger Factory Outlet Centers, Inc. (NYSE:   SKT), announced today that its
 Board of Directors approved an increase in its dividend on common shares from
 $.6075 per share to $.61 per share for the first quarter ended March 31, 2001.
 A cash dividend of $.61 per share will be payable on May 15, 2001 to holders
 of record on April 30, 2001 on its 7,918,911 common shares outstanding and on
 3,033,305 Limited Partnership Units of Tanger Properties Limited Partnership.
     The Company's Board of Directors also approved a dividend increase from
 $.5474 per share to $.5496 per share on its 805,997 Depositary Shares
 representing its outstanding Series A Cumulative Convertible Redeemable
 Preferred Shares.  A cash dividend of $.5496 per Depositary Share will be
 payable on May 15, 2001 to holders of record on April 30, 2001.
     The Company has paid dividends each quarter since it became a publicly
 traded company in May 1993.  Tanger Factory Outlet Centers, Inc., (NYSE:   SKT)
 a publicly-traded REIT, presently owns and operates 29 shopping centers in 20
 states coast to coast, totaling approximately 5.3 million square feet leased
 to over 1,000 stores operated by over 240 different brand name companies.  As
 of March 31, 2001, Tanger's existing centers were 95% occupied.  For more
 information on Tanger Outlet Centers, visit our web site at
 www.tangeroutlet.com.
 
 SOURCE  Tanger Factory Outlet Centers, Inc.