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Data last updated: Oct 14, 2026
Snapshot (as of Oct 14, 2026): Public Storage (PSA) pays a $12.00 annual dividend ($3.00 quarterly), yielding 4.15% at $288.39/share. Next ex-dividend date 2026-09-15. Source: Yahoo Finance, aggregated by MerryDiv.
Dividend Yield: 4.15%
Annual Dividend: $12.00 per share
Payout Ratio: 114.6%
Ex-Dividend Date: 2026-09-15
Dividend Frequency: quarterly
Sector: Real Estate
Years of Dividend History: 42
Public Storage is the largest self-storage REIT in the United States, and the Public Storage dividend currently yields 4.14%. PSA pays $12.00 per share annually in quarterly installments, with the next ex-dividend date on September 15, 2026. With a beta of 0.929, PSA stock carries below-market price volatility, which suits income investors who prioritize steadier returns over aggressive capital appreciation.
Public Storage pays out 114.6% of earnings as dividends, a payout ratio classified as high (above 75%). Self-storage demand is driven by life events like moving, downsizing, and business storage needs, and PSA's 3,584 facilities across 40 states provide a broad base of recurring rental income that supports the current payment level. Public Storage dividend safety faces its clearest pressure from that above-100% payout ratio, which means the dividend currently exceeds reported earnings and leaves little room to absorb a revenue decline.
Public Storage dividend history shows a CAGR of 9.6% per year from 2010 to 2025. The per-share annual dividend grew from $3.05 in 2012 to $12.00 in 2025 (2026 is a partial year and excluded from the growth calculation). The dividend held flat at $8.00 per share from 2018 through 2021, a four-year stretch with zero growth, which is the most significant pause in the available window.
| Period | CAGR | From | To |
|---|---|---|---|
| 3-Year | -17.2% | $21.15 (2022) | $12.00 (2025) |
| 5-Year | +8.4% | $8.00 (2020) | $12.00 (2025) |
| 10-Year | +6.3% | $6.50 (2015) | $12.00 (2025) |
PSA stock fits dividend investors who want a high current yield from a large, geographically diversified real estate business. At 4.14%, the yield is classified as high (above 4%) and sits well above PSA's own 5-year average of 3.34%, which means buyers today are locking in a historically elevated income rate. The trade-off is a payout ratio above 100%, which caps the likelihood of near-term dividend increases and raises the stakes if rental income softens. Two consecutive years of increases is a short streak, so growth-focused income investors will find the recent record thin.
| Payment Date | Amount per Share |
|---|---|
| 2026-09-15 | $3.0000 |
| 2026-06-15 | $3.0000 |
| 2026-03-16 | $3.0000 |
| 2025-12-15 | $3.0000 |
| 2025-09-15 | $3.0000 |
| 2025-06-12 | $3.0000 |
| 2025-03-13 | $3.0000 |
| 2024-12-13 | $3.0000 |
| 2024-09-13 | $3.0000 |
| 2024-06-12 | $3.0000 |
| Year | Total Dividends |
|---|---|
| 2026 | $9.0000 |
| 2025 | $12.0000 |
| 2024 | $12.0000 |
| 2023 | $12.0000 |
| 2022 | $21.1500 |
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