Life Storage, Inc. Raises Quarterly Common Stock Dividend by 11%

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Jan 03, 2023

The Board of Directors of Life+Storage%2C+Inc. (NYSE:LSI, Financial), a self-storage real estate investment trust (REIT), announced today an increase in the Company’s quarterly common stock dividend from $1.08 per share to $1.20 per share or $4.32 to $4.80 annualized. This increase represents an 11% increase over the prior quarter and 20% over the dividend declared in the first quarter of 2022. The increase is effective with the quarterly dividend to be paid on January 26, 2023 to shareholders of record on January 13, 2023. The dividend, based on December 30, 2022 closing share price, equates to an annual yield of 4.9%.