Company: EGP
Filing Date: 2025-07-23
Form Type: 10-Q
Source: 0000049600-25-000100
Chunk: 124

Company: EASTGROUP PROPERTIES INC
Filing Date: 2025-07-23
Form: 10-Q
Item: Part I, Item 8
Chunk 124
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 discussed below.

Net cash provided by operating activities was $277,081,000 for the six months ended June 30, 2025.  The primary other sources of cash were proceeds from common stock offerings and borrowings on unsecured bank credit facilities.  The Company distributed $146,299,000 in common stock dividends during the six months ended June 30, 2025.  Other primary uses of cash were for the construction and development of properties; repayments on unsecured debt and unsecured bank credit facilities; and capital improvements at various properties.

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As of June 30, 2025, the Company was contractually obligated to pay the dividend declared in May 2025, which was paid in July 2025. An amount for dividends payable of $74,932,000 was included in Accounts payable and accrued expenses at June 30, 2025, which includes dividends payable on unvested restricted stock of $1,277,000, which are subject to continued service and will be paid upon vesting in future periods.

Scheduled principal payments on long-term debt, including Unsecured debt, net of debt issuance costs (not including Unsecured bank credit facilities, net of debt issuance costs), as of June 30, 2025, are as follows: 

MATURITY DATESWeighted Average Interest Rate (1)Principal Payments Maturing(In thousands)August 28, 20253.80%$20,000 October 1, 20253.97%25,000 October 7, 20253.99%50,000 Year 20262.56%140,000 Year 20272.74%175,000 Year 20283.10%160,000 Year 20293.88%155,000 Year 2030 and beyond3.57%735,000 Total Unsecured Debt 3.38%$1,460,000 

(1)These loans have a fixed interest rate or an effectively fixed interest rate due to interest rate swaps.

In January 2025, EastGroup refinanced a $100,000,000 senior unsecured term loan, reducing the credit spread by 30 basis points to a total effectively fixed interest rate of 4.97%. The loan, which previously had five years remaining, now has a three-year maturity with two one-year extension options, at the Company's election.

In March 2025, EastGroup repaid