EastGroup Properties Announces 164th Consecutive Quarterly Cash Dividend

Rhea-AI Summary

EastGroup Properties (NYSE: EGP) has declared a quarterly cash dividend of $.79 per share, payable on January 15, 2021, to shareholders on record by December 31, 2020. This marks the 164th consecutive quarterly dividend and reflects an annualized rate of $3.16 per share. EastGroup has maintained or increased its dividend for 28 consecutive years, with 25 increases over this period, including rises in each of the last nine years.

Positive

• Declared a quarterly cash dividend of $.79 per share.
• 164th consecutive quarterly dividend enhances investor confidence.
• Annualized dividend rate of $3.16 per share demonstrates commitment to shareholders.
• History of maintaining or increasing dividends for 28 years, showing stability.

Negative

• None.

JACKSON, Miss., Dec. 3, 2020 /PRNewswire/ -- EastGroup Properties (NYSE:EGP) announced today that its Board of Directors declared a quarterly cash dividend of $.79 per share payable on January 15, 2021 to shareholders of record of Common Stock on December 31, 2020.  This dividend is the 164^th consecutive quarterly distribution to EastGroup's shareholders and represents an annualized dividend rate of $3.16 per share.  EastGroup has increased or maintained its dividend for 28 consecutive years.  The Company has increased it 25 years over that period, including increases in each of the last nine years.

EastGroup Properties, Inc. (NYSE: EGP), an S&P MidCap 400 Company, is a self-administered equity real estate investment trust focused on the development, acquisition and operation of industrial properties in major Sunbelt markets throughout the United States with an emphasis in the states of Florida, Texas, Arizona, California and North Carolina. The Company's goal is to maximize shareholder value by being a leading provider in its markets of functional, flexible and quality business distribution space for location sensitive customers (primarily in the 15,000 to 70,000 square foot range). The Company's strategy for growth is based on ownership of premier distribution facilities generally clustered near major transportation features in supply-constrained submarkets. EastGroup's portfolio, including development projects and value-add acquisitions in lease-up and under construction, currently includes approximately 46 million square feet.

EastGroup Properties, Inc. press releases are available at www.eastgroup.net.

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SOURCE EastGroup Properties

FAQ

What is the dividend amount for EastGroup Properties (EGP) announced on December 3, 2020?

EastGroup Properties announced a quarterly cash dividend of $.79 per share.

When will the dividend for EGP shareholders be paid?

The dividend will be paid on January 15, 2021.

How long has EastGroup Properties maintained its dividend payments?

EastGroup Properties has maintained or increased its dividend for 28 consecutive years.

What is the annualized dividend rate for EGP based on the recent announcement?

The annualized dividend rate is $3.16 per share.