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Data last updated: Sep 06, 2026
Snapshot (as of Sep 06, 2026): Life Storage, Inc. (LSI) pays a $4.38 annual dividend ($0.90 quarterly), yielding 3.29% at $133.10/share. Next ex-dividend date 2023-07-12. Source: Yahoo Finance, aggregated by MerryDiv.
Dividend Yield: 3.29%
Annual Dividend: $4.38 per share
Payout Ratio: 135.1%
Ex-Dividend Date: 2023-07-12
Dividend Frequency: quarterly
Sector: Real Estate
Years of Dividend History: 29
Life Storage, Inc. operates over 900 self-storage locations across 30 U.S. states and Ontario, Canada, serving nearly 500,000 customers with month-to-month storage solutions. The Life Storage, Inc. dividend currently yields 3.29%, paid at $4.38 per share over the trailing twelve months. LSI pays quarterly, with the most recent dividend of $0.90 per share and an ex-dividend date of July 12, 2023. With a beta of 0.635, LSI stock moves well below the broader market, which appeals to income-focused investors who prioritize lower volatility.
Life Storage, Inc. pays out 135.1% of earnings as dividends, a payout ratio classified as high (above 75%). As a REIT, LSI generates revenue from month-to-month storage rentals across a large, geographically diversified portfolio, which provides a recurring demand base that supports ongoing distributions. Life Storage, Inc. dividend safety faces pressure from that 135.1% payout ratio, which exceeds earnings on a reported basis and leaves little room to absorb any meaningful revenue softness without straining the dividend.
Life Storage, Inc. dividend history shows a CAGR of 3.3% per year from 2006 to 2022. Per-share payments grew from $2.47 to $4.16 over that window (2023 data is partial and excluded from the CAGR calculation). The largest annual increase in the window was 34.7% in 2014, though the history also contains at least one year-over-year decline exceeding 5%, so growth has not been linear.
| Period | CAGR | From | To |
|---|---|---|---|
| 3-Year | -8.3% | $4.28 (2020) | $3.30 (2023) |
| 5-Year | -3.8% | $4.00 (2018) | $3.30 (2023) |
| 10-Year | +5.0% | $2.02 (2013) | $3.30 (2023) |
Life Storage, Inc. suits income-focused investors drawn to the self-storage REIT sector who want a moderate yield with relatively low market sensitivity. At 3.29%, the current yield sits above the 5-year average of 2.73%, which means today's entry point delivers more income than the historical norm. The trade-off is a payout ratio of 135.1%, which is high by any measure, and a dividend growth rate of just 3.3% per year over the long term. Growth is slow. What LSI stock offers is a moderate (2-4%) yield from a large, geographically diversified portfolio, paired with the acceptance that the payout is stretched relative to reported earnings.
| Payment Date | Amount per Share |
|---|---|
| 2023-07-12 | $0.9000 |
| 2023-04-13 | $1.2000 |
| 2023-01-12 | $1.2000 |
| 2022-10-13 | $1.0800 |
| 2022-07-14 | $1.0800 |
| 2022-04-13 | $1.0000 |
| 2022-01-13 | $1.0000 |
| 2021-10-12 | $0.8600 |
| 2021-07-13 | $0.7400 |
| 2021-04-13 | $0.7400 |
| Year | Total Dividends |
|---|---|
| 2023 | $3.3000 |
| 2022 | $4.1600 |
| 2021 | $3.4500 |
| 2020 | $4.2800 |
| 2019 | $4.0000 |
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