JACKSON, MISSISSIPPI, August 27, 2020 — EastGroup Properties (NYSE:EGP) announced today that its Board of Directors approved a 5.3% increase in its quarterly dividend, raising it to $.79 per share from $.75 per share. The dividend is payable on October 15, 2020 to shareholders of record of Common Stock on September 30, 2020. This dividend is the 163rd consecutive quarterly distribution to EastGroup’s shareholders and represents an annualized dividend rate of $3.16 per share. EastGroup has increased or maintained its dividend for 28 consecutive years. The Company has increased it 25 years over that period, including increases in each of the last nine years.