Tanger Factory Outlet Centers announced Thursday that its board of directors declared a quarterly cash dividend of 35.5 cents per share payable on Nov. 15.

The dividend is the same amount the company paid in second quarter 2019.

Since Tanger became public in May 1993, it has a paid a cash dividend each quarter and has increased its dividend each year, the company said in a statement.

Tanger is a real estate investment trust headquarter in Greensboro that invests in shopping centers containing outlet stores. The company owns and operates 39 outlet shopping centers in 20 U.S. states and Canada.

Shares of Tanger closed at $15.40 Friday afternoon, up 90 cents.