EastGroup Properties Announces Dividend Increase From $1.25 To $1.27/Share
Portfolio Pulse from Happy Mohamed
EastGroup Properties (NYSE:EGP) has announced an increase in its quarterly dividend from $1.25 to $1.27 per share. The new dividend will be payable on October 13, 2023, to shareholders of record on September 29, 2023. This marks the 175th consecutive quarterly cash distribution to EastGroup's shareholders and represents an annualized dividend rate of $5.08 per share. The company has increased or maintained its dividend for 31 consecutive years.
August 25, 2023 | 8:11 pm
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EastGroup Properties has increased its quarterly dividend, which could make the stock more attractive to income-focused investors. This is the 175th consecutive quarterly cash distribution, demonstrating the company's commitment to returning capital to shareholders.
Dividend increases are generally seen as a positive signal by the market, as they suggest a company's confidence in its future earnings. This could potentially lead to an increase in the stock price in the short term. EastGroup's consistent history of dividend payments also demonstrates its commitment to returning capital to shareholders, which could make the stock more attractive to income-focused investors.
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IMPORTANCE 80
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