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Data last updated: Sep 28, 2026
Snapshot (as of Sep 28, 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. 12 consecutive years of dividend growth. 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 quarterly at $0.90 per share, with an ex-dividend date of July 12, 2023. The trailing annual dividend rate stands at $4.38 per share. LSI's beta of 0.635 points to below-average price volatility, which suits income-focused investors who prioritize steadier returns over aggressive capital appreciation.
Life Storage, Inc. pays out 135.1% of earnings as dividends, a payout ratio classified as high (above 75%). The company's self-storage business serves nearly 500,000 customers on flexible month-to-month leases across a network of over 900 locations, providing broad geographic diversification that supports ongoing revenue generation. Life Storage, Inc. dividend safety is the central concern here: a payout ratio above 100% means the dividend currently exceeds reported earnings, and any sustained pressure on occupancy or rental rates across its 30-state footprint could make the current $4.38 annual rate difficult to maintain.
Life Storage, Inc. dividend history shows a CAGR of 6.3% per year from 2007 to 2022. The per-share annual dividend grew from $1.66 to $4.16 over that period (2023 and beyond are partial or future years and excluded from this calculation). The largest annual increase in the window was 35.1% in 2022, while the data also contains at least one year-over-year decline exceeding 5%, so growth has not been linear.
| Period | CAGR | From | To |
|---|---|---|---|
| 3-Year | +5.0% | $2.85 (2020) | $3.30 (2023) |
| 5-Year | +4.4% | $2.67 (2018) | $3.30 (2023) |
| 10-Year | +9.4% | $1.35 (2013) | $3.30 (2023) |
Life Storage, Inc. fits income-focused investors who want exposure to the self-storage sector with a moderate yield and a 12-year dividend increase streak. The current yield of 3.29% sits above the 5-year average of 2.64%, which means buyers today are locking in a yield that is above recent norms for LSI stock. The trade-off is real: a payout ratio of 135.1% is elevated, and the yield classification of moderate (2–4%) means this is not a high-income play. What an investor gets is a geographically diversified REIT with a decade-plus of consecutive increases; what they accept is a payout that currently outpaces 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 | $3.0800 |
| 2020 | $2.8532 |
| 2019 | $2.6668 |
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