EastGroup Properties (EGP) will raise its quarterly dividend by 4.2 percent to $0.75 per share in 2019. Last year the real estate investment trust hiked its dividend by 12.5 percent.

The next dividend is payable on October 15, 2019 to shareholders of record on September 30, 2019.  A new annual rate of $3.00 per share yields 2.4% at a stock price of $124.50.

This dividend is the 159th consecutive quarterly distribution to EastGroup's shareholders and represents an annualized dividend rate of $3.00 per share. EastGroup has increased or maintained its dividend for 27 consecutive years. The company has increased it 24 years over that period, including increases in each of the last eight years.

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's portfolio currently includes 41.1 million square feet.