CubeSmart Keeps Dividend Steady at $0.11

Self-storage facility operator has paid a quarterly dividend each year since 2005.

By Rich Duprey – May 30, 2013 at 5:47PM EST

Self-storage facility operator CubeSmart (CUBE +1.06%) announced yesterday its second-quarter dividend of $0.11 per share, the same rate it's paid the past two quarters after raising the payout 38%, from $0.08 per share.

The board of directors said the quarterly dividend is payable on July 15 to the holders of record at the close of business on July 1. CubeSmart has paid a quarterly dividend every year since 2005 and has increased the payout each year since 2011.

The REIT's board also declared a quarterly dividend of $0.484375 per share for its 7.75% Series A cumulative redeemable preferred shares that is also payable on July 15 to holders of record on July 1.

The regular dividend payment equates to a $0.44-per-share annual dividend, yielding 2.6% based on the closing price of CubeSmart's stock on May 29.

CUBE Dividend data by YCharts

Rich has been a Fool since 1998 and writing for the site since 2004. After 20 years of patrolling the mean streets of suburbia, he hung up his badge and gun to take up a pen full time. Having made the streets safe for Truth, Justice, and Krispy Kreme donuts, he now patrols the markets looking for companies he can lock up as long-term holdings in a portfolio. His coverage reflects his passion for motorcycles, booze, and guns (though not enjoyed all at the same time...usually), but his writing also covers the broader sectors of consumer goods, technology, and industrials. So follow along as he tries to break down complex topics to make them more understandable and useful to the average investor. Have a story idea? Contact Rich here. I may not be able to respond to every suggestion, but I do read them all! Does an article needs a correction? Reach Rich here.

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CubeSmart Keeps Dividend Steady at $0.11

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