Tanger Factory Outlet Centers, a leading operator of upscale open-air outlet centers, announced today that its Board of Directors approved a 9.6% increase in the annual dividend on its common shares from $0.73 per share to $0.80 per share. Simultaneously, the Board of Directors declared a quarterly cash dividend of $0.20 per share, payable on May 13, 2022, to common shareholders of record on April 29, 2022.
KB Home today announced that on April 7, 2022, its Board of Directors authorized the repurchase of up to $300 million of the Company's outstanding common stock, replacing a prior authorization, which had 331,400 shares remaining. Repurchases under this new authorization may occur periodically through open market purchases, privately negotiated transactions or otherwise, with the timing and amount at management's discretion and dependent on market, business and other conditions. In addition, the Board of Directors declared a quarterly cash dividend of $.15 per share on the Company's common stock, payable on May 19, 2022 to stockholders of record on May 5, 2022.
The Reaves Utility Income Fund announced today the next three, monthly, dividends at a rate of $0.19 per common share per month, unchanged from the per share rate paid for the previous quarter. As of April 6, 2022, the Fund's market price was $34.54 per share and its net asset value was $35.83 per share. The April dividend will be payable on April 29, 2022, to common shareholders of record on April 22, 2022.
Vertical Capital Income Fund today announced a distribution of $0.0742 per share pursuant to the Fund's managed distribution which will be payable on April 29, 2022, to common shareholders of record on April 19, 2022.
For MarketNewsVideo.com, I'm Sayoko Murase.