The Board of Directors of Life Storage, Inc. announced that its Board of Directors has approved a 3.7% year-over-year increase in the Company’s quarterly common stock dividend. The Board has also approved a three-for-two stock split of the Company’s common stock, which will be made in the form of a 50% stock dividend. Shareholders of record at the close of business on January 15, 2021 will receive one additional share of Life Storage common stock for every two shares owned. These additional shares will be distributed on January 27, 2021. Cash will be distributed in lieu of fractional shares based on the closing price on the record date. The Company has approximately 49.5 million shares outstanding and, after the split, the Company will have approximately 74.3 million shares outstanding. Life Storage’s common stock will begin trading on a split-adjusted basis on January 28, 2021. On a pre-split basis, the quarterly cash dividend equates to $1.11 per common share or $4.44 annualized. The increase is effective with the quarterly dividend to be paid on January 27, 2021 to shareholders of record on January 15, 2021. The dividend, based on today’s opening share price, equates to an annual yield of 3.7%. The dividend will be paid on pre-split shares.