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 Company’s quarterly common stock dividend from $0.75 per share to $0.85 per share or from $3.00 to $3.40 per share annualized. The increase is effective with the quarterly dividend to be paid on July 27, 2015 to shareholders of record on July 17, 2015. The dividend, based on yesterday’s closing share price equates to an annual yield of approximately 3.9%.
“The performance of our people and our technology platforms has lead to strong cash flow growth at Uncle Bob’s stores,” said Andy Gregoire, Chief Financial Officer. “We are pleased to share the benefits of this performance with our shareholders by way of our 5th dividend increase in the last three years.”
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 500 self storage facilities in 25 states under the name Uncle Bob’s Self Storage®. For more information, visit www.unclebobs.com, like us on Facebook, or follow us on Twitter.