EastGroup Properties Announces the Income Tax Treatment of its 2010 Distributions

News provided by

EastGroup Properties, Inc.

Jan 24, 2011, 12:51 ET

JACKSON, Miss., Jan. 24, 2011 /PRNewswire/ -- EastGroup Properties, Inc. (NYSE: EGP) announced today the income tax treatment of its 2010 distributions as described below.  Shareholders are encouraged to consult with their personal tax advisors as to their specific tax treatment of EastGroup Properties distributions.

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Common Stock:

Ticker Symbol EGP, CUSIP #277 276 101


Record

Dates

Payment

Dates

Total

Distributions

Per Share

Total

Ordinary

Dividend


Nondividend

Distributions (1)

03/19/10

03/31/10

$.52

$.36937

$.15063

06/18/10

06/30/10

 .52

 .36937

 .15063

09/17/10

09/30/10

 .52

 .36937

 .15063

12/17/10

12/30/10

 .52

 .36937

 .15063







TOTALS

$2.08

$1.47748

$.60252

Form 1099-DIV box


1a

3


(1)  Return of Capital



The Company did not incur any foreign taxes in 2010.  Of the total distributions during 2010, none are considered qualifying dividends for purposes of the federal 15% income tax rate.  Should you need any additional information, please call Bruce Corkern, Senior Vice President and Controller, at 601-354-3555.

EastGroup Properties, Inc. is a self-administered equity real estate investment trust focused on the acquisition, development and operation of industrial properties in major Sunbelt markets throughout the United States with an emphasis in the states of Florida, Texas, Arizona and California.  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 28.1 million square feet.

EastGroup Properties press releases are available at www.eastgroup.net.

SOURCE EastGroup Properties, Inc.