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GREENSBORO, NC - Tanger Inc. (Market cap: $3.56 billion), a retail REIT with a "GOOD" financial health score according to InvestingPro, announced the results of its annual shareholder meeting held on May 9, 2025, including the election of directors and the approval of executive officer compensation. The company, which currently yields 3.88% in dividends, also disclosed a newly authorized share repurchase program.
At the 2025 Annual Meeting, shareholders voted on the election of nine directors to serve until the next annual meeting. All nominees were elected with a substantial majority. The second matter voted on was the ratification of Deloitte & Touche LLP as the company’s independent registered public accounting firm for the fiscal year ending December 31, 2025, which passed with overwhelming support.
Additionally, shareholders approved, on an advisory basis, the compensation of named executive officers. The results of the votes on these three matters were affirmative, with each director nominee elected and both the ratification of the accounting firm and the executive compensation plan approved.
In conjunction with the annual meeting outcomes, Tanger Inc.’s Board of Directors authorized a new share repurchase program. The company is now empowered to buy back up to $200 million of its outstanding shares, replacing the previous $100 million authorization set to expire on May 31, 2025. According to InvestingPro analysis, the stock currently trades at a P/E ratio of 35.15x, suggesting a premium valuation. InvestingPro subscribers can access 7 additional key insights about Tanger’s valuation and financial strength. The repurchase plan does not require the company to acquire a specific number of shares and can be adjusted, paused, or stopped at any time. Tanger may conduct these repurchases under the market price and volume conditions stipulated by Rule 10b-18 and may engage in Rule 10b5-1 trading plans to facilitate these repurchases.
This announcement is based on a press release statement and reflects the company’s continued confidence in its financial strength and commitment to delivering shareholder value. Notable among InvestingPro’s findings is that Tanger has maintained dividend payments for 33 consecutive years and its liquid assets exceed short-term obligations. The repurchase program is also subject to federal securities laws and regulations.
The information provided in this article is based on a recent SEC filing by Tanger Inc.
In other recent news, Tanger Inc. reported its Q1 2025 earnings, which showed a mixed financial performance. The company posted earnings per share of $0.17, missing the analysts’ forecast of $0.21. However, Tanger Inc. exceeded revenue expectations, reporting $135.36 million compared to the forecasted $122.99 million. This revenue increase was supported by a 2.3% growth in same-center net operating income and a high occupancy rate of 95.8%. Additionally, Tanger Inc. announced a 6.4% increase in its dividend, reflecting confidence in future cash flows.
The company has also authorized a new $200 million share repurchase program, replacing the previous $100 million authorization. This decision was made following the company’s 2025 Annual Meeting, where all nine directors were re-elected, and Deloitte & Touche LLP was ratified as the independent accounting firm for the fiscal year. Tanger Inc. continues to optimize its portfolio with strategic acquisitions, such as the Pinecrest lifestyle center, and the sale of a non-core center in Michigan.
Furthermore, Tanger Inc. plans to launch the "Summer of Savings" campaign as part of its strategic initiatives to attract diverse demographics. The company maintains a positive outlook with a full-year core FFO guidance of $2.22 to $2.30 per share. The recent developments indicate Tanger Inc.’s strategic focus on growth and shareholder value.
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