CubeSmart Announces 3.0% Increase in Quarterly Common Dividend
CubeSmart (NYSE: CUBE) has announced a quarterly dividend of $0.34 per common share for the period ending December 31, 2020, representing an annualized rate of $1.36.
Sentiment and the balance of points
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Rhea-AI Summary
CubeSmart (NYSE: CUBE) has announced a quarterly dividend of $0.34 per common share for the period ending December 31, 2020, representing an annualized rate of $1.36. This marks an increase of $0.04 from the previous rate of $1.32. The dividend is payable on January 15, 2021, to shareholders of record on January 4, 2021. This is the 11th consecutive year of dividend increases, indicating the company's strong cash flow generation even amid market uncertainties.
Positive
- Quarterly dividend increased to $0.34 per share, raising annualized rate to $1.36.
- 11 consecutive years of dividend increases reflect strong cash flow generation.
Negative
- None.
Details
News Market Reaction – CUBE
The recorded move for CUBE in the trading session of this news was +1.00%.
Data tracked by StockTitan Argus. Session date unavailable.
AI-generated analysis. How Rhea-AI works. Not financial advice.
MALVERN, Pa., Dec. 08, 2020 (GLOBE NEWSWIRE) -- CubeSmart (NYSE: CUBE) announced today that its Board of Trustees declared a quarterly dividend of
“We are pleased to announce an increase to our quarterly dividend for the 11th consecutive year as our platform showcased its ability to consistently generate strong cash flows in a year of unprecedented uncertainty,” commented Christopher P. Marr, President and Chief Executive Officer.
About the Company
CubeSmart is a self-administered and self-managed real estate investment trust. CubeSmart owns or manages 1,257 self-storage properties across the United States. According to the 2020 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 property, visit www.cubesmart.com or call CubeSmart toll free at 800-800-1717.
Company Contact:
Josh Schutzer
Senior Director, Finance
(610) 535-5700
FAQ
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