EastGroup Properties Announces 165th Consecutive Quarterly Cash Dividend

Rhea-AI Summary

EastGroup Properties (NYSE: EGP) has declared a quarterly cash dividend of $0.79 per share, payable on April 15, 2021. This dividend marks the 165^th consecutive distribution to shareholders, maintaining an annualized rate of $3.16 per share. EastGroup has maintained or increased its dividend for 28 years, with increases in 25 of those years, highlighting a consistent commitment to shareholder value.

Positive

• Quarterly cash dividend of $0.79 per share.
• 165th consecutive quarterly dividend, emphasizing reliability.
• 28 years of sustained or increased dividends, showcasing strong financial health.

Negative

• None.

JACKSON, Miss., March 5, 2021 /PRNewswire/ -- EastGroup Properties (NYSE: EGP) announced today that its Board of Directors declared a quarterly cash dividend of $0.79 per share payable on April 15, 2021 to shareholders of record of Common Stock on March 31, 2021.  This dividend is the 165^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. 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 47 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 announced by EastGroup Properties on March 5, 2021?

EastGroup Properties announced a quarterly cash dividend of $0.79 per share.

When is the dividend payment date for EastGroup Properties?

The dividend is payable on April 15, 2021.

How long has EastGroup Properties maintained its dividend?

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

What is the annualized dividend rate for EastGroup Properties?

The annualized dividend rate is $3.16 per share.