EastGroup Properties Announces the Income Tax Treatment of its 2021 Distributions

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On January 24, 2022, EastGroup Properties (NYSE: EGP) announced the income tax treatment for its 2021 distributions, encouraging shareholders to consult tax advisors for personalized guidance. The total distributions for 2021 were $3.61656 per share, with none classified as qualifying dividends for the federal 15% income tax rate. The company reported no foreign taxes for the year. EastGroup Properties focuses on industrial property development and operation in key Sunbelt markets across the U.S., aiming to enhance shareholder value through strategic growth.

Positive

• Total distributions for 2021 reached $3.61656 per share.
• No foreign taxes incurred in 2021.
• Company focuses on industrial property in high-demand Sunbelt markets.

Negative

• None.

JACKSON, Miss., Jan. 24, 2022 /PRNewswire/ -- EastGroup Properties, Inc. (NYSE: EGP) (the "Company", "EastGroup") announced today the income tax treatment of its 2021 distributions as described below.  Shareholders are encouraged to consult with their personal tax advisors as to their specific tax treatment of EastGroup distributions.

Common Stock:
Ticker Symbol EGP, CUSIP #277 276 101

Record Dates	Payment Dates	Total Distributions Per Share (1)	Ordinary Dividends	Capital Gain Distributions	Unrecaptured Sec. 1250 Gain (2)	Nondividend Distributions (3)	Section 199A Dividends (4)
12/31/20	01/15/21	$0.12827	$0.12827	$0.00000	$0.00000	$0.00000	$0.12827
03/31/21	04/15/21	0.79000	0.79000	0.00000	0.00000	0.00000	0.79000
06/30/21	07/15/21	0.79000	0.79000	0.00000	0.00000	0.00000	0.79000
09/30/21	10/15/21	0.90000	0.90000	0.00000	0.00000	0.00000	0.90000
12/31/21	01/15/22	1.00829	1.00829	0.00000	0.00000	0.00000	1.00829
	TOTALS	$3.61656	$3.61656	$0.00000	$0.00000	$0.00000	$3.61656
Form 1099-DIV box			1a	2a	2b	3	5

(1)	Pursuant to Internal Revenue Code of 1986, as amended, Section 857(b)(9), cash distributions made on January 15, 2022 with a record date of December 31, 2021 are treated as received by shareholders on December 31, 2021 to the extent of 2021 undistributed earnings and profits.
(2)	Unrecaptured Sec. 1250 Gain (box 2b) is a subset of, and is included in, the Capital Gain Distributions amount reported in box 2a of Form 1099-DIV.
(3)	Return of Capital
(4)	Represents qualified REIT dividends that may be eligible for the 20% qualified business income deduction under Section 199A of the Internal Revenue Code of 1986, as amended, that is available for non-corporate taxpayers and is included in "Ordinary Dividends."

The Company did not incur any foreign taxes in 2021.  Of the total distributions during 2021, none are considered qualifying dividends for purposes of the federal 15% income tax rate. 

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 51 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 income tax treatment of EastGroup Properties' 2021 distributions?

EastGroup Properties' 2021 distributions total $3.61656 per share, with none qualifying for the federal 15% income tax rate.

When were the distributions for EastGroup Properties paid out in 2021?

The distributions were paid on various dates, including January 15, April 15, July 15, October 15, and January 15, 2022.

Did EastGroup Properties incur any foreign taxes in 2021?

No, EastGroup Properties did not incur any foreign taxes in 2021.

What is the focus of EastGroup Properties?

EastGroup Properties focuses on the development, acquisition, and operation of industrial properties in major Sunbelt markets.