JACKSON,
Miss., Aug. 23, 2024 /PRNewswire/ -- EastGroup
Properties (NYSE: EGP) (the "Company", "EastGroup") announced
today that its Board of Directors approved a 10.2% increase in its
quarterly dividend, raising it to $1.40 per share from $1.27 per share. The dividend is payable on
October 15, 2024, to shareholders of
record of Common Stock on September
30, 2024. This dividend is the 179th
consecutive quarterly cash 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 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 60.2 million square feet.
EastGroup Properties, Inc. press releases are available at
www.eastgroup.net.
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SOURCE EastGroup Properties
