Eastgroup Properties Inc (NYSE: EGP) said on Friday that its Board of Directors had authorized a regular quarterly cash dividend of $1.40 per share of common stock.
The latter represents an increase of 10.24% compared to the previous quarterly dividend of $1.27 per share.
The dividend is the 179th consecutive quarterly cash distribution to the company’s shareholders.
The dividend will be paid on October 15th to shareholders of record as of the close of business on September 30th 2024, the company said.
Stock Performance
The shares of Eastgroup Properties Inc (EGP) closed 1.41% ($2.62) higher at $188.23 in New York on Friday, as they extended the gains from the previous four market sessions.
The company’s total market cap now stands at $9.172 billion.
The shares of Eastgroup Properties Inc (EGP) went up 23.96% in 2023, compared with a 10.99% gain for the benchmark index, NYSE Composite (NYA).
The company’s shares have risen 2.55% so far this year.
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