CubeSmart Announces 2.0% Increase in Quarterly Common Dividend

Rhea-AI Summary

CubeSmart (NYSE: CUBE) has announced a 2.0% increase in its quarterly dividend, declaring $0.52 per common share for the period ending December 31, 2024. The dividend will be paid on January 16, 2025, to shareholders of record as of January 2, 2025. This marks the company's 15th consecutive annual dividend increase.

CubeSmart, a self-administered and self-managed real estate investment trust, currently owns or manages 1,538 self-storage properties across the United States. According to the 2024 Self Storage Almanac, the company ranks among the top three owners and operators of self-storage properties in the U.S.

Positive

• 15th consecutive annual dividend increase demonstrates consistent shareholder returns
• 2.0% increase in quarterly dividend to $0.52 per share
• Maintains position as one of top three self-storage operators in U.S.
• Large portfolio of 1,538 self-storage properties indicates strong market presence

Negative

• None.

News Market Reaction

-0.82%

1 alert

-0.82% News Effect

On the day this news was published, CUBE declined 0.82%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

MALVERN, Pa., Dec. 13, 2024 (GLOBE NEWSWIRE) -- CubeSmart (NYSE: CUBE) announced today that its Board of Trustees declared a quarterly dividend of $0.52 per common share for the period ending December 31, 2024. The dividend is payable on January 16, 2025 to common shareholders of record on January 2, 2025.  

“We are pleased to announce the 15^th consecutive annual increase to our dividend,” commented President and Chief Executive Officer Christopher P. Marr.

About the Company

CubeSmart is a self-administered and self-managed real estate investment trust. CubeSmart owns or manages 1,538 self-storage properties across the United States. According to the 2024 Self Storage Almanac, CubeSmart is one of the top three owners and operators of self-storage properties in the U.S.

The Company’s mission is to simplify the organizational and logistical challenges created by the many life events and business needs of its customers through innovative solutions, unparalleled service, and genuine care. The Company's self-storage properties are designed to offer affordable, easily accessible, and, in most locations, climate-controlled storage space for residential and commercial customers.

For more information about business and personal storage or to learn more about the Company and find a nearby storage facility, visit www.cubesmart.com or call CubeSmart toll free at 800-800-1717.

Company Contact:
CubeSmart
Josh Schutzer
Vice President, Finance
610-535-5700

FAQ

What is CubeSmart's new quarterly dividend amount for Q4 2024?

CubeSmart's new quarterly dividend is $0.52 per common share for the period ending December 31, 2024.

When will CUBE's Q4 2024 dividend be paid?

The dividend will be paid on January 16, 2025, to shareholders of record as of January 2, 2025.

How many consecutive years has CubeSmart increased its dividend?

CubeSmart has increased its dividend for 15 consecutive years.

What is the percentage increase in CubeSmart's quarterly dividend?

CubeSmart announced a 2.0% increase in its quarterly dividend.

How many self-storage properties does CUBE own or manage?

CubeSmart owns or manages 1,538 self-storage properties across the United States.