Extra Space Storage Inc. (EXR) will raise its quarterly dividend by 11.1 percent to $1.00 per share in 2021. This comes after a dividend hike of 4.7 percent to $0.90 per share in 2019. The self-storage REIT has now raised its dividend 11 consecutive years.
The next dividend is payable on March 31, 2021 to stockholders of record at the close of business on March 15, 2021. A new annualized dividend rate of $4.00 per share yields 3.3% at Friday's closing stock price of $119.63.
Extra Space Storage Inc. is a self-administered and self-managed real estate investment trust (REIT). The Company owns, operates, manages, acquires, develops and redevelops self-storage properties located throughout the United States. EXR is the second largest owner and/or operator of self-storage properties in the United States and is the largest self-storage management company in the United States.