EastGroup Properties Announces 180th Consecutive Quarterly Cash Dividend

EastGroup Properties (NYSE: EGP) has declared a quarterly cash dividend of $1.40 per share, payable on January 15, 2025, to shareholders of record as of December 31, 2024.

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Rhea-AI Summary

EastGroup Properties (NYSE: EGP) has declared a quarterly cash dividend of $1.40 per share, payable on January 15, 2025, to shareholders of record as of December 31, 2024. This marks the company's 180th consecutive quarterly distribution, representing an annualized dividend rate of $5.60 per share. The company has maintained or increased its dividend for 32 consecutive years, with increases in 29 of those years, including the last 13 years consecutively. EastGroup is a REIT focusing on industrial properties in major Sunbelt markets, with a portfolio of approximately 61.8 million square feet.

Positive

180th consecutive quarterly dividend payment demonstrates strong financial stability
32-year track record of maintaining or increasing dividends
29 years of dividend increases, including last 13 consecutive years
Substantial portfolio of 61.8 million square feet of industrial properties
Strategic presence in high-growth Sunbelt markets

Negative

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12/02/2024 - 01:25 PM EST

JACKSON, Miss., Dec. 2, 2024 /PRNewswire/ -- EastGroup Properties (NYSE: EGP) (the "Company", "EastGroup") announced today that its Board of Directors declared a quarterly cash dividend of $1.40 per share payable on January 15, 2025, to shareholders of record of Common Stock on December 31, 2024. This dividend is the 180^th consecutive quarterly distribution to EastGroup's shareholders and represents an annualized dividend rate of $5.60 per share. EastGroup has increased or maintained its dividend for 32 consecutive years. The Company has increased it 29 years over that period, including increases in each of the last 13 years.

EastGroup, a member of the S&P Mid-Cap 400 and Russell 2000 Indexes, 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 20,000 to 100,000 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 61.8 million square feet.

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

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SOURCE EastGroup Properties

FAQ

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What is EastGroup Properties (EGP) latest quarterly dividend amount?

EastGroup Properties declared a quarterly dividend of $1.40 per share, payable on January 15, 2025.

How many consecutive quarters has EGP paid dividends?

EastGroup Properties has paid dividends for 180 consecutive quarters.

What is EGP's annual dividend rate for 2025?

EastGroup Properties' annualized dividend rate is $5.60 per share.

How long has EastGroup Properties (EGP) maintained or increased its dividend?

EastGroup Properties has maintained or increased its dividend for 32 consecutive years, with increases in 29 of those years.

EastGroup Properties Announces 180th Consecutive Quarterly Cash Dividend