Public Storage (PSA) Announces $2.3 Billion Special Dividend

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Go back to Public Storage (PSA) Announces $2.3 Billion Special Dividend

Public Storage Announces $2.3 Billion Special Dividend Related to PS Business Parks Merger Consideration

July 22, 2022 4:05 PM EDT

GLENDALE, Calif.--(BUSINESS WIRE)-- Public Storage (NYSE:PSA, the Company) announced today that its Board of Trustees has declared a one-time dividend of $13.15 per common share, payable on August 4, 2022 to shareholders of record on August 1, 2022.

The Company is distributing the $2.3 billion projected tax gain realized in connection with the completion on July 20, 2022 of the previously announced acquisition of PS Business Parks, Inc. (PSB) by affiliates of Blackstone Real Estate. Public Storage, like all holders of PS Business Parks common shares and units, received $187.50 in cash per common... More