(MENAFN- PR Newswire) JACKSON, Miss., May 25, 2023 /PRNewswire/ -- EastGroup Properties (NYSE: egp ) (the "Company", "EastGroup") announced today that its Board of Directors declared a quarterly cash dividend of $1.25 per share payable on July 14, 2023, to shareholders of record of Common Stock on June 30, 2023. This dividend is the 174th consecutive quarterly distribution to EastGroup's shareholders and represents an annualized dividend rate of $5.00 per share. EastGroup has increased or maintained its dividend for 30 consecutive years. The Company has increased it 27 years over that period, including increases in each of the last 11 years.
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 57 million square feet.
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SOURCE EastGroup Properties
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