Life Storage, Inc. Raises Quarterly Common Stock Dividend by 8%

BUFFALO, N.Y.--(BUSINESS WIRE)-- The Board of Directors of Life Storage, Inc. (NYSE:LSI), a self-storage real estate investment trust (REIT), announced today an increase in the Company’s quarterly common stock dividend from $1.00 per share to $1.08 per share or $4.00 to $4.32 annualized. This new rate represents an 8% increase from the previous quarter and a 46% increase from the second quarter 2021 dividend. The increase is effective with the quarterly dividend to be paid on July 26, 2022 to shareholders of record on July 15, 2022. The dividend, based on today’s opening share price, equates to an annual yield of 3.8%.

“The Board is pleased to approve another increase to our quarterly dividend based on our strong operating results, outlook and financial position,” said Joe Saffire, the Company’s Chief Executive Officer. “Our team and platforms are well positioned to continue generating strong cash flow to invest in our technology initiatives, operating platforms, properties and people while also returning capital to shareholders consistent with our rapidly growing Core FFO per share. We look forward to continuing to deliver attractive total shareholder returns.”

ABOUT LIFE STORAGE, INC:
Life Storage, Inc. is a self-administered and self-managed equity REIT that is in the business of acquiring and managing self-storage facilities. Located in Buffalo, New York, the Company operates more than 1,100 storage facilities in 36 states. The Company serves both residential and commercial storage customers with storage units rented by month. Life Storage consistently provides responsive service to more than 660,000 customers, making it a leader in the industry. For more information visit http://invest.lifestorage.com/.

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Life Storage, Inc.

Alex Gress

716.295.6833

agress@lifestorage.com

Source: Life Storage, Inc.

FAQ

What is the new dividend amount for Life Storage, Inc.?

The quarterly dividend for Life Storage, Inc. has increased to $1.08 per share.

When will the new dividend be paid to shareholders?

The new dividend will be paid on July 26, 2022.

What is the annualized dividend amount for Life Storage, Inc.?

The annualized dividend amount is now $4.32.

What is the yield of the new dividend for Life Storage, Inc.?

The yield based on the current share price is 3.8%.

How much has the dividend increased compared to the previous quarter?

The dividend has increased by 8% from the previous quarter.

What percentage increase does the new dividend represent from Q2 2021?

The new dividend represents a 46% increase from the second quarter of 2021.