Sovran Self Storage, Inc. Announces Increase in Quarterly Dividend
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 Companys quarterly dividend from $0.45 per share to $0.48 per share or $1.80 to $1.92 annualized. The increase is effective with the fourth quarter 2012 dividend and will be paid on January 28, 2013 to Shareholders of record on January 14, 2013. The dividend, based on Mondays closing share price, equates to an annual yield of approximately 3.1%.
Chief Executive Officer David Rogers said, "Weve been able to grow our cash flow significantly as a result of strong operating performance over the past two years, and were pleased to share some of this growth with our shareholders via an increased dividend. We realize the dividend is an important component of the overall investment return our investors seek, and also note that we will use funds generated by operations to invest in technology, people and properties to sustain a strong financial position and continued growth.
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 400 self storage facilities in 25 states under the name Uncle Bobs Self Storage®. For more information, visit www.unclebobs.com, like us on Facebook, or follow us on Twitter.
Sovran Self Storage, Inc
Diane Piegza, Vice President Corporate Communications
Source: Sovran Self Storage, Inc.Copyright Business Wire 2013