JACKSON,
Miss., Jan. 25, 2024 /PRNewswire/ -- EastGroup
Properties, Inc. (NYSE: EGP) (the "Company" or
"EastGroup") announced today the income tax treatment of
its 2023 distributions as described below. Shareholders are
encouraged to consult with their personal tax advisors as to their
specific tax treatment of EastGroup distributions.
Common Stock:
Ticker Symbol EGP, CUSIP #277 276
101
Record
Dates
|
Payment
Dates
|
Total
Distributions
Per Share
(1)
|
Ordinary
Dividends
|
Capital Gain
Distributions
|
Unrecaptured
Sec. 1250
Gain (2)
|
Nondividend
Distributions
(3)
|
Section 199A
Dividends (4)
|
12/30/22
|
01/13/23
|
$0.25425
|
$0.25425
|
$0.00000
|
$0.00000
|
$0.00000
|
$0.25425
|
03/31/23
|
04/14/23
|
1.25000
|
1.25000
|
0.00000
|
0.00000
|
0.00000
|
1.25000
|
06/30/23
|
07/14/23
|
1.25000
|
1.25000
|
0.00000
|
0.00000
|
0.00000
|
1.25000
|
09/29/23
|
10/13/23
|
1.27000
|
1.27000
|
0.00000
|
0.00000
|
0.00000
|
1.27000
|
12/29/23
|
01/12/24
|
0.99658
|
0.99658
|
0.00000
|
0.00000
|
0.00000
|
0.99658
|
|
|
|
|
|
|
|
|
|
TOTALS
|
$5.02083
|
$5.02083
|
$0.00000
|
$0.00000
|
$0.00000
|
$5.02083
|
Form 1099-DIV
box
|
|
1a
|
2a
|
2b
|
3
|
5
|
(1)
|
Pursuant to Internal
Revenue Code of 1986, as amended, Section 857(b)(9), cash
distributions made on January 12, 2024 with a record date of
December 29, 2023 are treated as received by shareholders on
December 31, 2023 to the extent of 2023 undistributed earnings and
profits.
|
(2)
|
Unrecaptured Sec. 1250
Gain (box 2b) is a subset of, and is included in, the Capital Gain
Distributions amount reported in box 2a of Form
1099-DIV.
|
(3)
|
Return of
Capital
|
(4)
|
Represents qualified
REIT dividends that may be eligible for the 20% qualified business
income deduction under Section 199A of the Internal Revenue Code of
1986, as amended, that is available for non-corporate taxpayers and
is included in "Ordinary Dividends."
|
The Company did not incur any foreign taxes in 2023. Of the
total distributions during 2023, none are considered qualifying
dividends for purposes of the federal 15% income tax
rate.
EastGroup, a member of the S&P Mid-Cap 400 and Russell 1000
Indexes, 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. The Company's goal is to maximize shareholder
value by being a leading provider in its markets of functional,
flexible and quality business distribution space for location
sensitive customers (primarily in the 20,000 to 100,000 square foot
range). The Company's strategy for growth is based on ownership of
premier distribution facilities generally clustered near major
transportation features in supply-constrained submarkets.
EastGroup's portfolio, including development projects and value-add
acquisitions in lease-up and under construction, currently includes
approximately 59.2 million square feet.
EastGroup Properties, Inc. press releases are available at
www.eastgroup.net.
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SOURCE EastGroup Properties