Sovran Self Storage, Inc. Raises Quarterly Common Stock Dividend by 11.8%
BUFFALO, N.Y.--(BUSINESS WIRE)-- The Board of Directors of Sovran Self Storage, Inc. (NYSE:SSS), a self storage real estate investment trust (REIT), announced today an increase in the Company’s quarterly common stock dividend from $0.85 per share to $0.95 per share or $3.40 to $3.80 annualized. The increase is effective with the quarterly dividend to be paid on April 26, 2016 to shareholders of record on April 14, 2016. The dividend, based on Friday’s closing share price equates to an annual yield of approximately 3.2%.
“Our cash flow continues to increase as a result of our robust operating platforms and solid self-storage industry fundamentals,” said Andy Gregoire Chief Financial Officer. “Once again we are pleased to share the benefits of this performance with our shareholders.”
About Sovran Self Storage, Inc.
Sovran Self Storage, Inc. is an equity REIT that is in the business of acquiring and managing self storage facilities. The Company operates over 550 self storage facilities in 26 states under the name Uncle Bob’s Self Storage®. For more information, visit www.unclebobs.com, like us on Facebook, or follow us on Twitter.
Sovran Self Storage, Inc.
Diane Piegza, 716-650-6115
Vice President, Investor Relations & Community Affairs
Source: Sovran Self Storage, Inc.
Released April 4, 2016