Real estate investment trust Sovran Self Storage Inc. today announced a quarterly dividend of $.45 per share of common stock. The annualized dividend is $1.80 per share which, based on yesterday’s share price, equates to an annual rate of approximately 7.3 percent. The dividend will be paid on July 27, 2009, to shareholders of record on July 13, 2009.
Sovran is a self-administered and self-managed equity REIT in the business of acquiring and managing self-storage facilities. The company operates 385 self-storage facilities in 24 states under the name Uncle Bob's Self Storage.