National Storage Affiliates Trust (NSA) will raise its quarterly dividend by another 7.9 percent to 41 cents quarterly. This follows a dividend hike of 8.6 percent to 38 cents per share announced by NSA in June 2021. This comes after a double dividend hike for a total increase of 6.1 percent announced by the self storage REIT last year.
The increased NSA dividend of $0.41 per share for Q3 is payable on September 30, 2021 to shareholders of record on September 15, 2021. A new annual rate of $1.64 per share for NSA yields 2.8% at a stock price of $58. National Storage Affiliates Trust will now pay an estimated annual dividend of $126 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 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.