Company: EGP
Filing Date: 2025-02-12
Form Type: 10-K
Source: 0000049600-25-000019
Chunk: 126

Company: EASTGROUP PROPERTIES INC
Filing Date: 2025-02-12
Form: 10-K
Item: Item 3
Chunk 126
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ITEM 3.  LEGAL PROCEEDINGS.

The Company is not presently involved in any material litigation nor, to its knowledge, is any material litigation threatened against the Company or its properties, other than routine litigation arising in the ordinary course and other actions not deemed to be material. Substantially all of these matters are anticipated to be covered by the Company’s liability insurance; they are also not expected to have a material adverse effect on the Company’s financial condition or results of operations, individually or in the aggregate.  The Company cannot predict the outcome of any litigation with certainty, and some lawsuits, claims or proceedings may be disposed of unfavorably to the Company, which could materially affect its financial condition or results of operations.

ITEM 4.  MINE SAFETY DISCLOSURES.

Not applicable.

18

PART II.  OTHER INFORMATION

ITEM 5.  MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES.

The Company’s shares of common stock are listed for trading on the NYSE under the symbol “EGP.”  As of February 11, 2025, there were 378 holders of record of the Company’s 52,024,019 outstanding shares of common stock.  The Company distributed all of its 2024 and 2023 taxable income to its stockholders.  We generally pay quarterly cash dividends to holders of our common stock at the discretion of our Board of Directors. Our future distributions may vary and will be determined by the Board of Directors based upon the circumstances prevailing at the time, including our financial condition, operating results, estimated taxable income and REIT distribution requirements, and may be adjusted at the discretion of the Board of Directors.  Accordingly, no significant provisions for income taxes were necessary.  The following table summarizes the federal income tax treatment for all distributions by the Company for the years 2024 and 2023.

Federal Income Tax Treatment of Share Distributions

 Years Ended December 31,20242023Common Share Distributions: (Per share)Ordinary dividends$5.21028 5.02083 Nondividend distributions— — Unrecaptured Section 1250 capital gain— — Other capital gain— — Total Common Distributions (1)$5.21028 5.02083 

 (1)  Pursuant to Internal Revenue Code of 1986, as amended,