Amherst, N.Y.-based real estate investment trust Sovran Self Storage Inc., which operates the Uncle Bob’s Self Storage brand, will pay its shareholders a quarterly dividend of $.48 per share of common stock for the fourth quarter of 2012 that ended Dec. 31, a 3 cent increase over the dividend for the third quarter. The dividend will be paid on Jan. 28 to shareholders on record as of Jan. 14.
Sovran’s annualized dividend is $1.92 per share, compared to 1.80 at the end of the third quarter.
"We’ve been able to grow our cash flow significantly as a result of strong operating performance over the past two years, and we’re pleased to share some of this growth with our shareholders via an increased dividend, " said CEO David Rogers. "We realize the dividend is an important component of the overall investment return our investors seek, and also note that we will use funds generated by operations to invest in technology, people and properties to sustain a strong financial position and continued growth.”
Sovran operates 443 properties in 25 states. The company is actively acquiring additional self-storage facilities.