Buffalo, New York – (work wire) – The Board of Directors of Life Storage, Inc. (NYSE:LSI), a self-storage real estate investment trust (REIT), today announced an increase in the company’s quarterly common stock dividend from $0.86 per share to $1.00 per share. or $3.44 to $4.00 per year. The increase is effective with a quarterly dividend to be paid on January 26, 2022 to shareholders of record on January 14, 2022. The dividend, based on today’s opening stock price, equates to an annualized return of 2.6%.
“The Board of Directors is pleased to approve a 16% increase in our quarterly dividend based on our strong operating results, expectations and financial condition,” said Joe Safire, the company’s CEO. “Our team and platforms are well positioned to continue generating strong cash flow investing in our technology initiatives, operating platforms, property and people while returning capital to shareholders by maintaining a ratio of return.”
ABOUT LIFE STORAGE, INC:
Life Storage, Inc. They are self-managed and self-managed intellectual property investment funds engaged in the acquisition and management of self-storage facilities. Located in Buffalo, New York, the company operates more than 1,000 storage facilities in 35 states. The company serves both residential and commercial warehouse clients with monthly rented storage units. Life Storage has consistently provided responsive service to over 600,000 customers, making it an industry leader. For more information, visit http://invest.lifestorage.com/.