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TANGER FACTORY OUTLET CENTERS, INC. DECLARES CASH DIVIDEND

 GREENSBORO, N.C., Jan. 10 /PRNewswire/ -- Tanger Factory Outlet Centers, Inc. (NYSE: SKT), announced today that it declared a cash dividend for the fourth quarter ended Dec. 31, 1993 on its 4,857,796 shares of common stock outstanding and on 3,033,305 Limited Partnership Units of Tanger Properties Limited Partnership. A cash dividend of $.42 per share will be payable on Jan. 31, 1994 to holders of record on Jan. 20, 1994.
 The company also declared an initial cash dividend for the 15 day period ending Dec. 31, 1993 on its 3,000,000 Depositary Shares representing its outstanding Series A Cumulative Convertible Redeemable Preferred Stock. A cash dividend of $.066 per Depositary Share will be payable on Feb. 15, 1994 to holders of record on Jan. 20, 1994.
 Tanger Factory Outlet Centers, Inc., a publicly-traded REIT, is one of the largest owners and operators of factory outlet centers in the United States with 19 factory outlet centers. The company is a fully integrated real estate company providing all development, management, and leasing services for its properties. Headquartered in Greensboro, N.C., Tanger Factory Outlet Centers was the first factory outlet shopping center developer to go public completing its initial public offering on June 4, 1993.
 -0- 1/10/94
 /CONTACT: Rochelle Simpson of Tanger Factory Outlet Centers, 910-274-1666/
 (SKT)


CO: Tanger Factory Outlet Centers, Inc. ST: North Carolina IN: REA SU: DIV

MB-CM -- CH002 -- 0469 01/10/94 09:58 EST
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Publication:PR Newswire
Date:Jan 10, 1994
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