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Data last updated: Aug 31, 2026
Snapshot (as of Aug 31, 2026): Public Storage (PSA) pays a $12.00 annual dividend ($3.00 quarterly), yielding 3.83% at $313.51/share. Next ex-dividend date 2026-09-15. Source: Yahoo Finance, aggregated by MerryDiv.
Dividend Yield: 3.83%
Annual Dividend: $12.00 per share
Payout Ratio: 141.1%
Ex-Dividend Date: 2026-09-15
Dividend Frequency: quarterly
Sector: Real Estate
Years of Dividend History: 39
Public Storage is the largest self-storage REIT in the United States, and the Public Storage dividend currently yields 3.83%. PSA pays $12.00 per share annually on a quarterly basis, with the next ex-dividend date set for September 15, 2026. With a beta of 0.945, this stock tracks closely with the broader market, making it a fit for dividend investors who want real estate income without extreme price swings.
Public Storage pays out 141.1% of earnings as dividends, a payout ratio classified as high (above 75%). That figure exceeds 100%, meaning PSA is currently paying more in dividends than it earns on a reported earnings basis, which is common for REITs that use funds from operations rather than net income as the true measure of cash generation. Public Storage dividend safety hinges on whether operating cash flows from its 2,504 U.S. self-storage facilities can sustain the $12.00 annual rate, and a payout ratio this elevated leaves little room for earnings pressure without forcing a dividend review.
Public Storage dividend history shows a CAGR of 9.6% per year from 2010 to 2025. The per-share payment grew from $3.05 to $12.00 over that period (2026 is a partial year and excluded from the CAGR calculation). Growth was not linear: the dividend held flat at $8.00 from 2018 through 2021, and the data window contains at least one year-over-year decline exceeding 5%. The largest single-year jump was 164.4% in 2022, which accounts for much of the long-run average.
| 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 fits dividend investors who want moderate income from a large, tangible real estate business. The current yield of 3.83% sits below the 5-year average of 4.16%, so buyers today are getting slightly less income than the historical norm. Growth has been uneven: four consecutive flat years followed by a massive 2022 spike means the 9.6% CAGR flatters what was, for much of the decade, a stagnant payout. The yield classification is moderate (2-4%), and the payout ratio above 100% of reported earnings is the central trade-off. What an investor gets is exposure to a dominant self-storage operator with 171 million net rentable square feet; what they accept is a dividend that has shown it can stall for years and a payout structure that leaves limited cushion.
| 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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