National Storage REIT (NSR) has announced an estimated fully franked interim dividend of 6¢ per stapled security for the period spanning July 1 to December 31. The record date for determining eligible shareholders is December 31. Payment of the dividend is scheduled to occur on February 20. National Storage owns and operates self-storage centres across Australia and New Zealand, providing storage solutions for households and businesses. As a real estate investment trust (REIT), it distributes a significant portion of its income to investors.
The dividend announcement comes shortly after a $4 billion takeover bid for the REIT. Brookfield and GIC, two of the world’s largest investment firms, jointly submitted a bid of $2.86 per share this week to acquire National Storage. The proposal is currently under consideration by the NSR board.
The timing of the dividend distribution may influence shareholder sentiment regarding the proposed takeover. Investors will be weighing the immediate return from the dividend against the potential gains from the takeover offer. The NSR board has not yet released an official recommendation regarding the Brookfield and GIC offer.
Shareholders are advised to consult their financial advisors to assess their individual circumstances and make informed decisions regarding their investment in National Storage REIT. Further updates are expected as the takeover situation evolves.