Today’s chart highlights a top dividend stock that’s largely overlooked by investors. The number-one reason to consider this top dividend stock is its growing payout. While the stock doesn’t really get much attention from financial media, the company’s dividend track record is nothing short of impressive. Since its initial public offering (IPO) in May 1993, the company has raised its quarterly dividend rate every single year. It offers a 5.8% annual dividend yield.
The company in question is Tanger Factory Outlet Centers Inc. (NYSE:SKT), a real estate investment trust (REIT) headquartered in Greensboro, North Carolina. As the name suggests, Tanger specializes in outlet centers. Stanley Tanger, the company’s founder, started with one outlet center in Burlington, North Carolina in 1981. Over the years, the business expanded quite a bit. Right now, Tanger’s portfolio consists of 43 upscale outlet shopping centers located in 22 states and Canada.
Source: Income Investors
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- Dividend Investing + Value Investing = Superior Returns
- The Dark Side of Dividends
- 7 Higher Yielders With A Low Free Cash Flow Payout
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