Eastgroup Properties (EGP) hikes dividend by 10.2%

On August 23, 2024, EastGroup Properties (EGP) announced that it will hike its quarterly dividend by 10.2% to a new record high of $1.40 per share. This will mark the 29th consecutive year of dividend increases by the real estate investment trust.

EastGroup Properties recently announced a significant dividend increase for 2024, reflecting a 10.2% hike in its quarterly dividend. As of the most recent update on August 26, 2024, the new quarterly dividend per share (p/s) has risen to $1.40, bringing the annual dividend to $5.60 per share.

This increase boosts the company's dividend yield to 3.0%, calculated based on the current stock price of $187.00. The ex-dividend date for this payout is set for September 30, 2024, meaning investors need to hold the stock before this date to be eligible for the upcoming dividend.

EastGroup Properties' stock has shown a year-to-date (YTD) total return of 3.4% Two years ago Eastgroup announced a 13.6% dividend hike.

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.