JACKSON, Miss., Sept. 7, 2012 /PRNewswire/ -- EastGroup Properties (NYSE: EGP) announced today that its Board of Directors approved a 2.0% increase in its quarterly dividend, raising it to $.53 per share from $.52 per share. The dividend is payable on September 28, 2012 to shareholders of record of Common Stock on September 18, 2012. This dividend is the 131 st consecutive quarterly distribution to EastGroup's shareholders and represents an annualized dividend rate of $2.12 per share. EastGroup has increased or maintained its dividend for 20 consecutive years and increased it 17 years over that period.
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 over 30 million square feet.
EastGroup Properties, Inc. press releases are available at www.eastgroup.net .SOURCE EastGroup Properties, Inc.