CubeSmart Announces 4.1% Increase in Quarterly Common Dividend

Rhea-AI Summary

CubeSmart (NYSE: CUBE) declared a quarterly dividend of $0.51 per common share for the period ending December 31, 2023, representing an annualized dividend rate of $2.04 per share, an increase of $0.08 per share from the previous annual rate of $1.96 per share. President and CEO Christopher P. Marr expressed pride in the 14th consecutive annual increase to the dividend and emphasized the company's commitment to sharing growth with shareholders.

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• 14th consecutive annual increase to the dividend
• Annualized dividend rate increased to $2.04 per share

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• None.

MALVERN, Pa., Dec. 07, 2023 (GLOBE NEWSWIRE) -- CubeSmart (NYSE: CUBE) announced today that its Board of Trustees declared a quarterly dividend of $0.51 per common share for the period ending December 31, 2023. The dividend is payable on January 16, 2024 to common shareholders of record on January 2, 2024. The quarterly distribution represents an annualized dividend rate of $2.04 per share, an increase of $0.08 per share from the previous annual rate of $1.96 per share.

“We are proud to announce the 14^th consecutive annual increase to our dividend,” commented President and Chief Executive Officer Christopher P. Marr. “Our team continues to execute on our growth strategy, and we remain committed to sharing in that growth with our shareholders.”

About the Company

CubeSmart is a self-administered and self-managed real estate investment trust. CubeSmart owns or manages 1,397 self-storage properties across the United States. According to the 2023 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:
CubeSmart
Josh Schutzer
Vice President, Finance
610-535-5700

FAQ

What is the quarterly dividend declared by CubeSmart for the period ending December 31, 2023?

CubeSmart declared a quarterly dividend of $0.51 per common share for the period ending December 31, 2023.

When is the dividend payable to common shareholders of CubeSmart?

The dividend is payable on January 16, 2024 to common shareholders of record on January 2, 2024.

What is the annualized dividend rate of CubeSmart per share?

The annualized dividend rate is $2.04 per share, an increase of $0.08 per share from the previous annual rate of $1.96 per share.

How many consecutive annual increases has CubeSmart announced for its dividend?

CubeSmart has announced the 14th consecutive annual increase to its dividend.

Who is the President and CEO of CubeSmart?

The President and CEO of CubeSmart is Christopher P. Marr.