National Storage Affiliates Trust (NSA) will raise its quarterly dividend by 8.6 percent to 38 cents per share in June 2021. This follows a double dividend hike for a total increase of 6.1 percent announced by the self storage REIT last year.

The next dividend is payable on June 30, 2021 to shareholders of record on June 15, 2021. A new annual rate of $1.52 per share yields 3.3% at a stock price of $46. National Storage Affiliates Trust will now pay an estimated annual dividend of $116 million to its shareholders.

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 self storage properties located in 35 states and Puerto Rico. 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.