National Storage Affiliates (NSA) will raise its quarterly dividend by 3 percent to $0.34 per share in 2020. This follows a 10.0 percent dividend hike by the self storage REIT announced in 2019, when the company did two smaller dividend hikes of one cent each.

The next dividend is payable on September 30, 2020 to shareholders of record on September 15, 2020. A new annual rate of $1.36 per share yields 4.0% at a stock price of $33.89.

National Storage Affiliates Trust is a real estate investment trust focused on the ownership, operation and acquisition of self-storage properties located within metropolitan areas throughout the United States. The company owns and operates 735 self storage properties located in 35 states and Puerto Rico with approximately 47 million rentable square feet. National Storage went public in 2015 and has increased its dividend every year since. The company was co-founded by CEO Arlen D. Nordhagen in 1998 as SecurCare Self Storage.