Life Storage boosts dividend 11% to $1.20 from $1.08

The Board of Directors of Life Storage announced 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, to shareholders of record on January 13 . The dividend, based on December 30 closing share price, equates to an annual yield of 4.9%. "The Board is pleased to approve an 11% increase in our quarterly dividend, marking the sixth increase in the last four years and a total raise of 79% over that time period," said Joe Saffire, the Company’s Chief Executive Officer. "We are proud to have a track record of consistent dividend growth and look forward to continuing to deliver strong financial performance and shareholder value in the future."