EastGroup Announces a 10.2% Dividend Hike: Is This Hike Sustainable?

EastGroup Properties (EGP) announced a hike of 10.2% in its quarterly dividend, raising it to $1.40 per share from $1.27 paid earlier. The increased dividend will be paid out on Oct. 15 to shareholders on record as of Sep. 30, 2024. Based on the increase, the annual dividend rate now comes to $5.60 a share, resulting in an annualized yield of 2.99%, considering EastGroup's closing price of $187 on Aug. 26. Solid dividend payouts remain the biggest enticements for REIT investors, and EastGroup Properties is ...