JACKSON, MISSISSIPPI, August 25, 2023 —¬ EastGroup Properties (NYSE: EGP) (the “Company”, “EastGroup”) announced today that its Board of Directors approved an increase in its quarterly dividend, raising it to $1.27 per share from $1.25 per share. Projected total dividends per share for 2023 are expected to represent an increase of 7.2% over total dividends declared in 2022.
The $1.27 per share dividend is payable on October 13, 2023, to shareholders of record of Common Stock on September 29, 2023. This dividend is the 175th consecutive quarterly cash distribution to EastGroup’s shareholders and represents an annualized dividend rate of $5.08 per share. EastGroup has increased or maintained its dividend for 31 consecutive years. The Company has increased it 28 years over that period, including increases in each of the last 12 years.