CubeSmart Keeps Dividend Steady at $0.11
Self-storage facility operator CubeSmart announced yesterday its second-quarter dividend of $0.11 per share, the same rate it's paid the past two quarters after raising the payout 38%, from $0.08 per share.
The board of directors said the quarterly dividend is payable on July 15 to the holders of record at the close of business on July 1. CubeSmart has paid a quarterly dividend every year since 2005 and has increased the payout each year since 2011.
The REIT's board also declared a quarterly dividend of $0.484375 per share for its 7.75% Series A cumulative redeemable preferred shares that is also payable on July 15 to holders of record on July 1.
The regular dividend payment equates to a $0.44-per-share annual dividend, yielding 2.6% based on the closing price of CubeSmart's stock on May 29.
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