Sovran Self Storage has boosted its dividend by more than 10 percent in a move that the company’s chief executive said reflects the self storage facility operator’s strengthening earnings.
Sovran said it raised its quarterly dividend to 53 cents per share from 48 cents. The increased dividend is payable July 26 to shareholders of record on July 12.
“Our operating performance continues to exceed our expectations,” said David Rogers, Sovran’s chief executive officer, in a statement. “We know the dividend is an important component of investment return and we’re pleased to share some of this growth with our shareholders.”