National Storage Affiliates Trust Announces Largest Increase in Quarterly Common Dividend Since IPO

Rhea-AI Summary

National Storage Affiliates Trust (NSA) announced a cash dividend for Q1 2022 of $0.50 per common share, a significant 43% increase from Q1 2021 and an 11% increase from the previous quarter. This represents the largest dividend increase since the company's IPO in 2015. The dividends will be payable on March 31, 2022, to shareholders of record on March 15, 2022. The company is focused on delivering attractive shareholder returns driven by its differentiated PRO structure and sunbelt market exposure.

Positive

• 43% increase in common share dividend compared to Q1 2021.
• Largest sequential and year-over-year dividend increase since IPO in 2015.
• Ongoing commitment to grow dividends, enhancing shareholder returns.

Negative

• None.

GREENWOOD VILLAGE, Colo.--(BUSINESS WIRE)-- National Storage Affiliates Trust (“NSA” or the "Company") (NYSE: NSA), announced that its Board of Trustees today declared regular cash dividends for the first quarter 2022 payable on March 31, 2022 to shareholders of record on March 15, 2022 on the following securities:

• a dividend of $0.50 per common share, representing an annualized dividend rate of $2.00. This new rate represents a 43% increase from the first quarter 2021 dividend and an 11% increase from the previous quarter.

• a dividend of $0.375 per share on the Company’s 6.000% Series A Cumulative Redeemable Preferred Shares.

Tamara Fischer, President and Chief Executive Officer, commented, “We are pleased to announce this significant increase to our quarterly common dividend which represents the largest sequential and year-over-year dividend increase since the Company’s IPO in 2015. As always, we remain committed to growing our dividend as part of our ongoing focus on delivering attractive total shareholder returns driven by our differentiated PRO structure and sunbelt market exposure.”

Upcoming Industry Conference

NSA management is scheduled to participate in Citi's 2022 Global Property CEO Conference on March 6 - 9, 2022 in Hollywood, Florida.

About National Storage Affiliates Trust

National Storage Affiliates Trust is a real estate investment trust headquartered in Greenwood Village, Colorado, focused on the ownership, operation and acquisition of self storage properties located within the top 100 metropolitan statistical areas throughout the United States. As of December 31, 2021, the Company held ownership interests in and operated 1,050 self storage properties located in 42 states and Puerto Rico with approximately 67.8 million rentable square feet. NSA is one of the largest owners and operators of self storage properties among public and private companies in the United States. For more information, please visit the Company’s website at www.nationalstorageaffiliates.com. NSA is included in the MSCI US REIT Index (RMS/RMZ), the Russell 2000 Index of Companies and the S&P MidCap 400 Index.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220224005900/en/

National Storage Affiliates Trust

Investor/Media Relations

George Hoglund, CFA

Vice President - Investor Relations

720.630.2160

ghoglund@nsareit.net

Source: National Storage Affiliates Trust

FAQ

What is the dividend amount for NSA in Q1 2022?

The dividend amount for National Storage Affiliates Trust (NSA) in Q1 2022 is $0.50 per common share.

When will the dividends for NSA be paid?

The dividends for NSA will be paid on March 31, 2022.

What is the record date for NSA's dividends?

The record date for NSA's dividends is March 15, 2022.

How does the Q1 2022 dividend compare to last year's?

The Q1 2022 dividend is a 43% increase compared to Q1 2021.

Is the dividend increase for NSA sustainable?

The company has expressed a commitment to grow its dividends, indicating a focus on delivering shareholder returns.