EastGroup Properties Announces 170th Consecutive Quarterly Cash Dividend

Rhea-AI Summary

EastGroup Properties (NYSE: EGP) declared a quarterly cash dividend of $1.10 per share, payable on July 15, 2022 to shareholders on record as of June 30, 2022. This marks the 170th consecutive quarterly dividend, with an annualized rate of $4.40 per share. EastGroup has maintained or increased its dividend for 29 consecutive years, including a 10-year streak of annual increases.

Positive

• Declared quarterly dividend of $1.10 per share, payable on July 15, 2022.
• 170th consecutive quarterly dividend showcases a strong dividend track record.
• Annualized dividend rate of $4.40 indicates ongoing financial health.
• 29 consecutive years of maintaining or increasing dividends reflects commitment to shareholder value.

Negative

• None.

JACKSON, Miss., May 26, 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 July 15, 2022 to shareholders of record of Common Stock on June 30, 2022. This dividend is the 170^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 52.4 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 declared by EastGroup Properties?

EastGroup Properties declared a dividend of $1.10 per share.

When will EastGroup Properties' dividend be paid?

The dividend will be paid on July 15, 2022.

What is the record date for EastGroup Properties' dividend?

The record date for the dividend is June 30, 2022.

How long has EastGroup Properties been paying dividends?

EastGroup Properties has paid dividends for 170 consecutive quarters.

What is the annualized dividend rate for EastGroup Properties?

The annualized dividend rate is $4.40 per share.

How many years has EastGroup Properties increased its dividend?

EastGroup has increased its dividend for 26 years.