EastGroup Properties Announces 181st Consecutive Quarterly Cash Dividend

Rhea-AI Summary

EastGroup Properties (NYSE: EGP) has declared its 181st consecutive quarterly cash dividend of $1.40 per share, payable on April 15, 2025, to shareholders of record on March 31, 2025. The dividend represents an annualized 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, a member of the S&P Mid-Cap 400 and Russell 2000 Indexes, is a self-administered REIT focusing on industrial properties in high-growth U.S. markets, particularly in Texas, Florida, California, Arizona, and North Carolina.

The company's portfolio currently includes approximately 63.1 million square feet of business distribution space, primarily serving customers requiring 20,000 to 100,000 square feet in supply-constrained submarkets.

Positive

• 181 consecutive quarterly dividends demonstrating strong dividend reliability
• 32-year track record of maintaining/increasing dividends
• 13 consecutive years of dividend increases
• Large portfolio of 63.1M sq ft in high-growth markets
• Strategic presence in supply-constrained submarkets

Negative

• None.

News Market Reaction

-0.61%

1 alert

-0.61% News Effect

On the day this news was published, EGP declined 0.61%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

JACKSON, Miss., March 7, 2025 /PRNewswire/ -- EastGroup Properties (NYSE: EGP) (the "Company" or "EastGroup") announced today that its Board of Directors declared a quarterly cash dividend of $1.40 per share payable on April 15, 2025, to shareholders of record of Common Stock on March 31, 2025.  This dividend is the 181^st 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 high-growth markets throughout the United States with an emphasis in the states of Texas, Florida, California, Arizona 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 63.1 million square feet.    

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

Contact: investor@eastgroup.net

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SOURCE EastGroup Properties

FAQ

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

EastGroup Properties declared a quarterly dividend of $1.40 per share, representing an annualized rate of $5.60 per share.

When will EGP's latest quarterly dividend be paid?

The dividend will be paid on April 15, 2025, to shareholders of record as of March 31, 2025.

How many consecutive quarters has EGP paid dividends?

EastGroup Properties has paid dividends for 181 consecutive quarters.

What is EGP's dividend increase track record?

EGP has maintained or increased its dividend for 32 consecutive years, with increases in 29 of those years, including the last 13 years.

How large is EastGroup Properties' current portfolio?

EastGroup's portfolio currently includes approximately 63.1 million square feet of business distribution space.