EastGroup Properties Announces 169th Consecutive Quarterly Cash Dividend

Rhea-AI Summary

EastGroup Properties (NYSE: EGP) declared a quarterly cash dividend of $1.10 per share, payable on April 14, 2022, to shareholders on record as of March 31, 2022. This marks the 169th consecutive quarterly distribution and represents an annualized rate of $4.40 per share. EastGroup has consistently increased or maintained its dividend for 29 years, with 26 increases during this time, including 10 consecutive years of growth.

Positive

• Quarterly cash dividend of $1.10 per share enhances shareholder income.
• Annualized dividend rate of $4.40 per share reflects strong performance.
• Company has a track record of increasing dividends for 29 years.

Negative

• None.

JACKSON, Miss., March 4, 2022 /PRNewswire/ -- EastGroup Properties (NYSE: EGP) (the "Company", "EastGroup") announced today that its Board of Directors declared a quarterly cash dividend of $1.10 per share payable on April 14, 2022 to shareholders of record of Common Stock on March 31, 2022.  This dividend is the 169^th consecutive quarterly distribution to EastGroup's shareholders and represents an annualized dividend rate of $4.40 per share.  EastGroup has increased or maintained its dividend for 29 consecutive years and has increased it 26 years over that period, including increases in each of the last 10 years.

EastGroup Properties, Inc. (NYSE: EGP), a S&P Mid-Cap 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. The Company's portfolio, including development projects and value-add acquisitions in lease-up and under construction, currently includes approximately 52 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 amount of EastGroup Properties' dividend for Q1 2022?

The dividend amount is $1.10 per share.

When will the dividend for EastGroup Properties be paid?

The dividend will be paid on April 14, 2022.

What is the annualized dividend rate for EastGroup Properties?

The annualized dividend rate is $4.40 per share.

How long has EastGroup Properties been paying dividends?

EastGroup Properties has been paying dividends for 29 consecutive years.

How many times has EastGroup Properties increased its dividend?

EastGroup Properties has increased its dividend 26 times over the last 29 years.