Extra Space Storage Lifts Dividend by 60%

Extra Space Storage has found some spare room on its balance sheet for a higher dividend. For its Q2, the company has declared a distribution of $0.40 per share of its common stock, to be handed out on June 28 to shareholders of record as of June 14. This amount represents an even 60% increase over Extra Space Storage's two previous quarterly payouts of $0.25 apiece. The more recent of the two was paid at the end of March.

The new dividend annualizes to $1.60 per share. That yields 3.7% at Extra Space Storage's most recent closing stock price of $43.61.

The article Extra Space Storage Lifts Dividend by 60% originally appeared on Fool.com.

Fool contributor Eric Volkman has no position in Extra Space Storage, and neither does The Motley Fool. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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