Public Storage (PSA) Raises Quarterly Dividend 50% to $3.00; 3.9% Yield
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Public Storage Proposes to Acquire Life Storage in All-Stock Transaction
February 5, 2023 6:02 PM ESTProposed Exchange Ratio of 0.4192 represents 19% VWAP premium; provides Life Storage shareholders with an immediate equity premium and ability to participate in enhanced growth, profitability, and value creation opportunities of the combined company
Encourages Life Storages Board to engage in good-faith discussions regarding the proposed value-maximizing transaction following unwillingness to date
GLENDALE, Calif.--(BUSINESS WIRE)-- Public Storage (NYSE: PSA), the nations leading owner, acquirer, developer, and operator of self-storage properties, today sent a letter to Mark G. Barberio, Life Storages... More
Public Storage Increases Quarterly Common Dividend by 50%
February 5, 2023 6:01 PM ESTGLENDALE, Calif.--(BUSINESS WIRE)-- Public Storage (NYSE: PSA) announced today that its Board of Trustees declared a 50% increase in the Companys regular common quarterly dividend from $2.00 to $3.00 per share. The distribution equates to an annualized increase to the Companys regular common dividend from $8.00 to $12.00 per share. The Board also declared dividends with respect to the Companys various series of preferred shares. All the dividends are payable on March 30, 2023 to shareholders of record as of March 15, 2023.
We are pleased to announce a 50% common dividend increase as we continue to deliver strong... More
