CubeSmart Announces 18% Increase in Quarterly Common Dividend

    0
    2

    CubeSmart (NYSE: CUBE), a self-administered and self-managed real estate investment trust focused on self-storage facilities, today announced that its Board of Trustees declared a quarterly dividend of $0.13 per common share for the period ending December 31, 2013. The dividend is payable on January 15, 2014 to common shareholders of record on January 2, 2014. The quarterly distribution represents an annualized dividend rate of $0.52 per share, an $.08 increase from the previous annual rate of $0.44 per share. The Board of Trustees also declared a quarterly dividend of $0.484375 per share for the 7.75% Series A Cumulative Redeemable Preferred Shares payable on January 15, 2014 to holders of record on January 2, 2014.

    “Our focus on execution combined with a favorable balance between limited new self-storage supply and increasing customer demand continues to produce extremely strong cash flow growth,” said Christopher Marr, President, Chief Investment Officer and Chief Operating Officer. “This latest dividend increase reflects the confidence we have in our business plan execution in 2014 and beyond, and our commitment to share the resulting cash flow growth with our shareholders.”

    About CubeSmart

    CubeSmart is a self-administered and self-managed real estate investment trust. CubeSmart owns or manages 526 self-storage facilities across the United States. According to the 2012 Self Storage Almanac, CubeSmart is one of the top four owners and operators of self-storage facilities in the U.S.

    The Company plans to exceed Customer expectations by adding more personalized services and technology to some of the best storage spaces around. The Company’s self-storage facilities are designed to offer affordable, easily accessible, secure, and, in most locations, climate-controlled storage space for residential and commercial customers. CubeSmart® services include storage customization, logistics services, comprehensive moving services, organizational services, and office amenities.

    For more information about business and personal storage or to learn more about the company and find a nearby storage facility, visit www.CubeSmart.com or call CubeSmart toll free at 800-800-1717.

    (via MarketWired)

    ]]>

    LEAVE A REPLY

    Please enter your comment!
    Please enter your name here