CubeSmart (CUBE) Raises Quarterly Dividend 31.3% to $0.21; 2.9% Yield

CubeSmart (NYSE: CUBE) declared a quarterly dividend of $0.21 per share, or $0.84 annualized. This is a 31.3% increase from the prior dividend of $0.16.

The dividend will be payable on January 15, 2016, to stockholders of record on January 4, 2016, with an ex-dividend date of December 30, 2015.

The annual yield on the dividend is 2.9 percent.

"Our operating platform and business plan execution have produced strong cash flow growth and our 31% dividend increase reflects our strategy of sharing that growth with common stockholders," commented Christopher P. Marr, President and Chief Executive Officer. "We have increased our dividend more than 60% over the last two years while continuing to maintain a conservative payout ratio, providing the Company with capital to support funding attractive investment opportunities that create long-term value."

For a dividend history and other dividend-related data on CubeSmart (CUBE) click here.

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