Public Storage Calls for Redemption of Outstanding Depositary Shares

Public Storage Inc. is calling for redemption of all outstanding depositary shares representing interests in its 7.125 percent Cumulative Preferred Shares, Series B on Nov. 5.

Public Storage Inc. is calling for redemption of all outstanding depositary shares representing interests in its 7.125 percent Cumulative Preferred Shares, Series B on Nov. 5, at $25 per share plus accrued dividends from Oct. 1, 2010 through the date of redemption. Before payment of accrued dividends, the aggregate redemption amount to be paid to all holders of the depositary shares is $108.7 million.

Glendale, Calif.-based Public Storage is a real estate investment trust that acquires, develops, owns and operates self-storage facilities. The company owns or operates about 2,000 self-storage facilities in 38 states, and 187 storage facilities in seven Western European nations under the Shurgard brand.

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