CubeSmart Announces 6.7% Increase in Quarterly Common Dividend
December 13 2018 - 4:05PM
CubeSmart (NYSE: CUBE) announced today that its Board of Trustees
declared a quarterly dividend of $0.32 per common share for the
period ending December 31, 2018. The dividend is payable on
January 15, 2019 to common shareholders of record on January 2,
2019. The quarterly distribution represents an annualized
dividend rate of $1.28 per share, an increase of $0.08 per share
from the previous annual rate of $1.20 per share.
“We continue to generate cash flow growth
through our strong operating platform and high-quality portfolio,”
commented Christopher P. Marr, President and Chief Executive
Officer. “We are pleased to increase our quarterly dividend by
6.7%, maintain a conservative payout ratio, and continue to pursue
external growth opportunities that create long-term value for our
shareholders.”
About the Company
CubeSmart is a self-administered and self-managed real estate
investment trust. CubeSmart owns or manages 1,071 self-storage
properties across the United States. According to the 2018 Self
Storage Almanac, CubeSmart is one of the top three owners and
operators of self-storage properties in the U.S.
The Company’s mission is to simplify the organizational and
logistical challenges created by the many life events and business
needs of its customers – through innovative solutions, unparalleled
service, and genuine care. The Company's self-storage properties
are designed to offer affordable, easily accessible, and, in most
locations, climate-controlled storage space for residential and
commercial customers.
For more information about business and personal storage or to
learn more about the Company and find a nearby storage facility,
visit www.cubesmart.com or call CubeSmart toll free at
800-800-1717.
Company Contact:CubeSmartCharles PlaceDirector, Investor
Relations610-535-5700
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