Eastgroup Properties hikes dividend by 13.9%

EastGroup Properties (EGP) will raise its quarterly dividend by 13.9 percent to 90 cents per share in 2021. This comes after a dividend hike of 5.3 percent to 79 cents per share in 2020. This will mark the 26th consecutive year of dividend increases by the real estate investment trust.

The next EGP dividend is payable on October 15, 2021 to shareholders of record on September 30, 2021. A new annual rate of $3.60 per share yields 2.0% to EastGroup Properties shareholders at a stock price of $175. The next ex-dividend date for EGP is September 29, 2021.

EastGroup Properties, Inc. 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. Its strategy for growth is based on its property portfolio orientation toward premier business distribution facilities clustered near major transportation features. EastGroup Properties has paid a dividend to shareholders every year since at least 1991.