Sovran Self Storage, Inc. Raises Quarterly Dividend by 28%

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    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 $0.53 per share to $0.68 per share or $2.12 to $2.72 annualized. The increase is effective with the quarterly dividend to be paid on January 27, 2014 to shareholders of record on January 16, 2014. The dividend, based on today’s opening share price, equates to an annual yield of approximately 4.2%.

    This is the third dividend raise in the past 12 months, equating to a total increase of over 50% to shareholders.

    David Rogers, Chief Executive Officer said, “Based on our strong operating results over the past two years, our optimistic outlook and the Company’s solid financial position, we are pleased to share the success with our fellow shareholders. We do this while remaining confident in our ability to continually grow and invest in our technology platforms, our properties, and our people.”

    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 470 self storage facilities in 25 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.

    (via BusinessWire)

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