NEWPORT BEACH, CA, UNITED STATES, July 19, 2021 /EINPresswire.com/ — Storelocal®, the only cooperative of independent self-storage owners in the world, announced today that its Board of Directors approved an annual dividend of $60.00 per share of Owner Member Stock in the co-op. The dividend is payable to Owner Members of record on June 30, 2021.
“This is a great milestone for the co-op,” said Travis Morrow, CEO of Storelocal. “We’re proud to be able to make this distribution as it demonstrates that the cooperative concept is taking hold in the self-storage industry and is successful.” Pamela Domingue, a founding member of Storelocal and owner of Storage Solution, said of the distribution, “It’s gratifying to see how Storelocal has grown in size, strength and influence. I look forward to continued growth and success as part of the organization.”
Lance Watkins, founder of Storelocal Storage Co-op, reacted to the news. “I’m proud to be part of Storelocal and I want to congratulate Travis on his leadership in providing this first dividend. With the products and services the co-op is now delivering, there are many more to come.”
Distributions from the co-op are paid to its owner members through their participation in the larger group and with its Partners.
Storelocal is a cooperative of self-storage owners and operators coming together to increase their competitive advantage in the marketplace. Members leverage new and existing resources to lower their operational costs and increase their profit. Founded in 2014, Storelocal’s membership now encompasses more than 1,300 independently owned self-storage facilities across 48 states and Canada. In addition to buying power deals available through the co-op, members also receive education, networking and knowledge sharing. Storelocal recently launched a tenant protection plan available exclusively to its members, as well as a voluntary brand option for members who wish to operate under the Storelocal Storage Co-op banner. More information about Storelocal can be found at www.selfstorage.coop