EastGroup Properties Announces the Income Tax Treatment of its 2022 Distributions

On January 26, 2023, EastGroup Properties (NYSE: EGP) announced the income tax treatment of its 2022 distributions.

Rhea-AI Summary

On January 26, 2023, EastGroup Properties (NYSE: EGP) announced the income tax treatment of its 2022 distributions. Shareholders are advised to consult tax advisors for details on how these distributions may affect their individual tax situations. The total distributions for 2022 amount to $4.53746 per share, including various categories such as ordinary dividends and nondividend distributions. Notably, no foreign taxes were incurred in 2022, and none of the distributions qualify for the federal 15% income tax rate. EastGroup focuses on developing and operating industrial properties in key U.S. markets, aiming to maximize shareholder value.

Positive

• Total distributions for 2022 amount to $4.53746 per share.
• No foreign taxes incurred in 2022.
• EastGroup Properties is focused on maximizing shareholder value through strategic development.

Negative

• None

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JACKSON, Miss., Jan. 26, 2023 /PRNewswire/ -- EastGroup Properties, Inc. (NYSE: EGP) (the "Company", "EastGroup") announced today the income tax treatment of its 2022 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)
12/31/21	01/15/22	$0.09171	$0.09171	$0.00000	$0.00000	$0.00000	$0.09171
03/31/22	04/14/22	1.10000	1.10000	0.00000	0.00000	0.00000	1.10000
06/30/22	07/15/22	1.10000	1.10000	0.00000	0.00000	0.00000	1.10000
09/30/22	10/14/22	1.25000	1.25000	0.00000	0.00000	0.00000	1.25000
12/30/22	01/13/23	0.99575	0.99575	0.00000	0.00000	0.00000	0.99575
	TOTALS	$4.53746	$4.53746	$0.00000	$0.00000	$0.00000	$4.53746
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 13, 2023 with a record date of December 30, 2022 are treated as received by shareholders on December 31, 2022 to the extent of 2022 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 2022.  Of the total distributions during 2022, none are considered qualifying dividends for purposes of the federal 15% income tax rate. 

EastGroup Properties, Inc. (NYSE: EGP), a member of the S&P Mid-Cap 400 and Russell 1000 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 56 million square feet.

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

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SOURCE EastGroup Properties

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What is the total distribution per share for EastGroup Properties (EGP) in 2022?

The total distribution per share for EastGroup Properties in 2022 is $4.53746.

Did EastGroup Properties incur any foreign taxes in 2022?

No, EastGroup Properties did not incur any foreign taxes in 2022.

Are any distributions from EastGroup Properties (EGP) considered qualifying dividends?

No, none of the distributions for 2022 are considered qualifying dividends for the federal 15% income tax rate.

When was the press release regarding the income tax treatment of EastGroup Properties (EGP) distributions issued?

The press release was issued on January 26, 2023.

What advice did EastGroup Properties give shareholders regarding their distributions?

EastGroup Properties advised shareholders to consult with their personal tax advisors regarding the specific tax treatment of distributions.