Trump signs order raising Canada tariffs to 35% from 25%
Tanger Inc. (NYSE:SKT), a well-known real estate investment trust specializing in outlet malls with a market capitalization of $3.56 billion and a "GOOD" financial health rating according to InvestingPro, announced on Monday that its Board of Directors has approved a new share repurchase program. The company is authorized to buy back up to $200 million of its outstanding common shares, replacing the previous $100 million authorization set to expire on May 31, 2025. The company has maintained dividend payments for 33 consecutive years, with a current dividend yield of 3.88% and a 12.5% dividend growth in the last twelve months.
This announcement followed the company’s 2025 Annual Meeting held on Thursday, May 9, 2025, where shareholders voted on several key matters. The first item on the agenda was the election of nine directors to the board, who were all successfully elected to serve until the next annual meeting. The voting results for each nominee were provided in detail, with the majority receiving overwhelming support from the shareholders. For deeper insights into Tanger’s governance and financial metrics, InvestingPro offers comprehensive analysis in its Pro Research Report, available for over 1,400 US stocks.
Additionally, shareholders ratified the appointment of Deloitte & Touche LLP as the company’s independent registered public accounting firm for the fiscal year ending December 31, 2025. The advisory vote on named executive officer compensation also passed, with a substantial number of votes in favor.
The share repurchase plan is non-obligatory and can be altered, extended, suspended, or discontinued at any time. Tanger Inc. may conduct the repurchases in the open market, complying with the pricing and volume standards of Rule 10b-18, and may use Rule 10b5-1 plans to facilitate these repurchases under the authorization.
This information is based on a press release statement filed with the SEC.
In other recent news, Tanger Inc. reported its Q1 2025 earnings, showing a mixed financial performance. The company posted earnings per share (EPS) of $0.17, which was below the $0.21 forecast by analysts. However, Tanger’s revenue for the quarter reached $135.36 million, surpassing expectations of $122.99 million. This revenue beat highlights strong sales performance, despite the shortfall in EPS. The company also reported a 2.3% growth in same-center net operating income and maintained high occupancy rates at 95.8%. Additionally, Tanger increased its dividend by 6.4%, reflecting confidence in future cash flows. The company continues to optimize its portfolio through strategic acquisitions, such as the Pinecrest lifestyle center, and the sale of non-core assets like the center in Michigan. Furthermore, Tanger’s positive outlook is supported by a full-year core funds from operations guidance of $2.22 to $2.30 per share, as well as anticipated growth initiatives.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.