JACKSON, Miss., Jan. 15 /PRNewswire-FirstCall/ -- EastGroup Properties, Inc. announced today the income tax treatment of its 2008 distributions as described below. Shareholders are encouraged to consult with their personal tax advisors as to their specific tax treatment of EastGroup Properties distributions.
(Logo: http://www.newscom.com/cgi-bin/prnh/20030519/EGPLOGO ) Common Stock: Ticker Symbol EGP, CUSIP #277 276 101 Total Total Distri- Total Capital Unrecaptured Record Payment butions Ordinary Gain Sec. Dates Dates Per Share Dividend Distribution 1250 Gain (1) 03/21/08 03/31/08 $.52 $.518943 $.001057 $.001057 06/20/08 06/30/08 .52 .518943 .001057 .001057 09/19/08 09/30/08 .52 .518943 .001057 .001057 12/19/08 12/31/08 .52 .518943 .001057 .001057 TOTALS $2.08 $2.075772 $.004228 $.004228 Form 1099-DIV box 1a 2a 2b Series D Preferred Stock: Ticker Symbol EGP PrD, CUSIP #277 276 408, Redeemed in full on July 2, 2008 Total Total Distri- Total Capital Unrecaptured Record Payment butions Ordinary Gain Sec. Dates Dates Per Share Dividend Distribution 1250 Gain (1) 03/31/08 04/15/08 $.496900 $.495713 $.001187 $.001187 06/30/08 07/15/08 .496900 .495713 .001187 .001187 07/02/08 07/02/08 .011000 .010974 .000026 .000026 TOTALS $1.0048 $1.0024 $.002400 $.002400 Form 1099-DIV box 1a 2a 2b (1) Unrecaptured Sec. 1250 Gain (box 2b) is a subset of, and is included in, the Total Capital Gain Distribution amount reported in box 2a of Form 1099-DIV.
The Company did not incur any foreign taxes in 2008. Of the total distributions during 2008, 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 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 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 25.7 million square feet with an additional 1.6 million square feet of properties under development.
EastGroup Properties press releases are available at http://www.eastgroup.net/.
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