On August 26, 2022, EastGroup Properties (EGP) announced that it will hike its quarterly dividend by 13.6% to a new record high of $1.25 per share. This will mark the 27th consecutive year of dividend increases by the real estate investment trust and comes on the back of a double dividend hike in 2021.

The next EGP dividend is payable on October 14, 2022 to shareholders of record on September 30, 2022. A new annual rate of $5.00 per share yields 3.0% to EastGroup Properties shareholders at a stock price of $168. The next ex-dividend date for EGP is September 29, 2022. Based on calculations by dividendhike.com EastGroup Properties will now pay a total dividend amount of $208 million annually to shareholders.

This dividend is the 171st consecutive quarterly cash distribution to EastGroup's shareholders and represents an annualized dividend rate of $5.00 per share.  EastGroup has increased or maintained its dividend for 30 consecutive years.  The company has increased it 27 years over that period, including increases in each of the last 11 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 Properties has paid a dividend to shareholders every year since at least 1991.