Public Storage (PSA) Raises Quarterly Dividend 5.9% to $1.80; 2.8% Yield

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Go back to Public Storage (PSA) Raises Quarterly Dividend 5.9% to $1.80; 2.8% Yield

Public Storage Reports Results for the Quarter Ended March 31, 2016 and Increases Quarterly Common Dividend to $1.80 Per Share

April 26, 2016 5:32 PM EDT

GLENDALE, Calif.--(BUSINESS WIRE)-- Public Storage (NYSE: PSA) announced today operating results for the quarter ended March 31, 2016.

Operating Results for the Three Months Ended March 31, 2016

For the three months ended March 31, 2016, net income allocable to our common shareholders was $241.3 million or $1.39 per diluted common share, compared to $212.6 million or $1.23 in 2015 representing an increase of $28.7 million or $0.16. The increase is primarily due to (i) a $45.3 million increase in self-storage net operating income offset partially by (ii) an $11.0 million foreign exchange translation loss, associated with our euro denominated debt, incurred in the... More