Public Storage (PSA) Raises Quarterly Dividend 50% to $3.00; 3.9% Yield

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Go back to Public Storage (PSA) Raises Quarterly Dividend 50% to $3.00; 3.9% Yield

Public Storage (PSA) offers to acquire Life Storage (LSI) in all-stock deal worth $11 billion

February 5, 2023 8:35 PM EST

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 Chairman, and Joseph V. Saffire, Life Storages CEO, copied in full below, with respect to its proposal to acquire all of the outstanding shares and units of Life Storage, Inc. (NYSE: LSI) in an all-stock transaction.

Under the terms of the proposal, first made privately to Life Storage in a January 12, 2023 letter, which is also copied in full below,... More