Public Storage (PSA) Dividend History & Yield
Public Storage (PSA) has increased its dividend for multiple years and currently yields 3.96%. The most recent dividend was $3.0000/share on Mar 31, 2026, paid Quarterly.
Current Yield
3.96%
TTM Dividend/Share
$12.00
Payment Frequency
Quarterly
Payout Ratio
123.8%
Consecutive Growth Years
0
Div Growth (1Y CAGR)
0.00%
Div Growth (5Y CAGR)
8.45%
Div Growth (10Y CAGR)
6.32%
PSA: compare the "Now" marker to the 1Y / 3Y / 5Y averages on the scale. One valuation signal among many — review fundamentals before investing.
Dividend health
Chowder score
12.4%
FCF payout ratio
19.0%
Net debt / EBITDA
3.0x
Interest coverage
7.91x
ROIC (TTM)
11.4%
Dividend Safety Score
4 out of 8 checks passed
Payout ratio below 75%
Payout ratio is 123.8%, above the 75% threshold.
Free cash flow covers dividend
FCF/share ($16.51) covers dividend/share ($12.00).
No dividend cuts in 10+ years
1 dividend cut(s) in the last 10 years.
Positive earnings growth trend
Earnings per share have grown over the past 5 years.
10+ years of consecutive growth
Only 0 consecutive year(s) of dividend growth.
FCF payout ratio below 70%
FCF payout ratio is 19.0%, below the 70% threshold.
Net Debt/EBITDA below 3x
Net Debt/EBITDA is 3.0x.
Dividend growth ≤ earnings growth (5Y)
Dividend growth (8.4%) exceeds EPS growth (5.3%) — payout ratio expanding.
Per-payment dividend history
Ex-date Jun 15, 2026
- Payment date
- Jun 30, 2026
- Dividend
- $3.0000
- Adj. dividend
- $3.0000
Ex-date Mar 16, 2026
- Payment date
- Mar 31, 2026
- Dividend
- $3.0000
- Adj. dividend
- $3.0000
Ex-date Dec 15, 2025
- Payment date
- Dec 30, 2025
- Dividend
- $3.0000
- Adj. dividend
- $3.0000
Ex-date Sep 15, 2025
- Payment date
- Sep 30, 2025
- Dividend
- $3.0000
- Adj. dividend
- $3.0000
Ex-date Jun 12, 2025
- Payment date
- Jun 27, 2025
- Dividend
- $3.0000
- Adj. dividend
- $3.0000
Ex-date Mar 13, 2025
- Payment date
- Mar 28, 2025
- Dividend
- $3.0000
- Adj. dividend
- $3.0000
Ex-date Dec 13, 2024
- Payment date
- Dec 30, 2024
- Dividend
- $3.0000
- Adj. dividend
- $3.0000
Ex-date Sep 13, 2024
- Payment date
- Sep 30, 2024
- Dividend
- $3.0000
- Adj. dividend
- $3.0000
Ex-date Jun 12, 2024
- Payment date
- Jun 27, 2024
- Dividend
- $3.0000
- Adj. dividend
- $3.0000
Ex-date Mar 12, 2024
- Payment date
- Mar 28, 2024
- Dividend
- $3.0000
- Adj. dividend
- $3.0000
Ex-date Dec 12, 2023
- Payment date
- Dec 28, 2023
- Dividend
- $3.0000
- Adj. dividend
- $3.0000
Ex-date Sep 12, 2023
- Payment date
- Sep 28, 2023
- Dividend
- $3.0000
- Adj. dividend
- $3.0000
| Ex-Date | Payment Date | Dividend | Adj. Dividend |
|---|---|---|---|
| Jun 15, 2026 | Jun 30, 2026 | $3.0000 | $3.0000 |
| Mar 16, 2026 | Mar 31, 2026 | $3.0000 | $3.0000 |
| Dec 15, 2025 | Dec 30, 2025 | $3.0000 | $3.0000 |
| Sep 15, 2025 | Sep 30, 2025 | $3.0000 | $3.0000 |
| Jun 12, 2025 | Jun 27, 2025 | $3.0000 | $3.0000 |
| Mar 13, 2025 | Mar 28, 2025 | $3.0000 | $3.0000 |
| Dec 13, 2024 | Dec 30, 2024 | $3.0000 | $3.0000 |
| Sep 13, 2024 | Sep 30, 2024 | $3.0000 | $3.0000 |
| Jun 12, 2024 | Jun 27, 2024 | $3.0000 | $3.0000 |
| Mar 12, 2024 | Mar 28, 2024 | $3.0000 | $3.0000 |
| Dec 12, 2023 | Dec 28, 2023 | $3.0000 | $3.0000 |
| Sep 12, 2023 | Sep 28, 2023 | $3.0000 | $3.0000 |
Historical Dividend Yield
Dividend Growth
Dividend Increase Track Record
The table shows 19 year-over-year increases across 41 calendar years of data (1985–2025).
| Year | Previous DPS | New DPS | Change |
|---|---|---|---|
| 2026 | $12.0000 | — | — |
| 2025 | $12.0000 | $12.0000 | 0.0% |
| 2024 | $12.0000 | $12.0000 | 0.0% |
| 2023 | $21.1500 | $12.0000 | -43.3% |
| 2022 | $8.0000 | $21.1500 | +164.4% |
| 2021 | $8.0000 | $8.0000 | 0.0% |
| 2020 | $8.0000 | $8.0000 | 0.0% |
| 2019 | $8.0000 | $8.0000 | 0.0% |
| 2018 | $8.0000 | $8.0000 | 0.0% |
| 2017 | $7.3000 | $8.0000 | +9.6% |
| 2016 | $6.5000 | $7.3000 | +12.3% |
| 2015 | $5.6000 | $6.5000 | +16.1% |
| 2014 | $5.1500 | $5.6000 | +8.7% |
| 2013 | $4.4000 | $5.1500 | +17.0% |
| 2012 | $3.6500 | $4.4000 | +20.5% |
| 2011 | $3.0500 | $3.6500 | +19.7% |
| 2010 | $2.2000 | $3.0500 | +38.6% |
| 2009 | $2.8000 | $2.2000 | -21.4% |
| 2008 | $2.0000 | $2.8000 | +40.0% |
| 2007 | $2.0000 | $2.0000 | 0.0% |
| 2006 | $1.9000 | $2.0000 | +5.3% |
| 2005 | $1.8000 | $1.9000 | +5.6% |
| 2004 | $1.8000 | $1.8000 | 0.0% |
| 2003 | $1.8000 | $1.8000 | 0.0% |
| 2002 | $1.6900 | $1.8000 | +6.5% |
| 2001 | $1.4800 | $1.6900 | +14.2% |
| 2000 | $1.5000 | $1.4800 | -1.3% |
| 1999 | $0.8800 | $1.5000 | +70.5% |
| 1998 | $0.8800 | $0.8800 | 0.0% |
| 1997 | $0.8800 | $0.8800 | 0.0% |
| 1996 | $1.1100 | $0.8800 | -20.7% |
| 1995 | $0.8500 | $1.1100 | +30.6% |
| 1994 | $0.8400 | $0.8500 | +1.2% |
| 1993 | $0.8400 | $0.8400 | 0.0% |
| 1992 | $0.8200 | $0.8400 | +2.4% |
| 1991 | $0.6500 | $0.8200 | +26.2% |
| 1990 | $1.4000 | $0.6500 | -53.6% |
| 1989 | $1.4000 | $1.4000 | 0.0% |
| 1988 | $1.4000 | $1.4000 | 0.0% |
| 1987 | $1.6600 | $1.4000 | -15.7% |
| 1986 | $1.8800 | $1.6600 | -11.7% |
| 1985 | — | $1.8800 | — |
DPS sums split-adjusted amounts (adj. dividend) by ex-dividend calendar year—the same basis as the Adj. Dividend column in Dividend Payment History. The Dividend column can differ after stock splits. This table uses four decimals per annual total so the Change column matches the shown amounts; each payment row in Dividend Payment History also uses four.
Cash dividends paid (USD) — TTM and history
Trailing-twelve-month and annual common dividends paid for Public Storage (PSA) from the consolidated cash flow statement, in USD as filed.
Latest period
$2.88B
YoY change
+0.1%
5Y CAGR
+7.5%
Peak year (2022)
$3.91B
Latest annual
$2.30B
Cash dividends paid over time for Public Storage (PSA)
Per-period cash dividends paid
Cash dividends paid annual + quarterly history for Public Storage (PSA)
| Fiscal year | Period ended | Reported | Dividends Paid | YoY | YoY change |
|---|---|---|---|---|---|
| 2025 | $2.30B | +0.1% | +$1.45M | ||
| 2024 | $2.30B | -0.1% | -$3.39M | ||
| 2023 | $2.31B | -41.0% | -$1.60B | ||
| 2022 | $3.91B | +146.0% | +$2.32B | ||
| 2021 | $1.59B | -1.1% | -$17.54M | ||
| 2020 | $1.61B | -0.1% | -$2.32M | ||
| 2019 | $1.61B | -0.2% | -$3.93M | ||
| 2018 | $1.61B | -1.1% | -$17.67M | ||
| 2017 | $1.63B | +8.3% | +$124.59M | ||
| 2016 | $1.51B | +9.8% | +$134.73M | ||
| 2015 | $1.37B | +14.2% | +$170.49M | ||
| 2014 | $1.20B | +10.0% | +$109.08M | ||
| 2013 | $1.09B | +13.8% | +$132.31M | ||
| 2012 | $959.15M | +13.3% | +$112.91M | ||
| 2011 | $846.25M | +12.1% | +$91.48M | ||
| 2010 | $754.77M | +15.8% | +$103.13M | ||
| 2009 | $651.64M | -11.2% | -$82.03M | ||
| 2008 | $733.68M | +22.7% | +$135.49M | ||
| 2007 | $598.18M | +12.0% | +$64.32M | ||
| 2006 | $533.86M | +21.7% | +$95.20M | ||
| 2005 | $438.66M | +6.9% | +$28.40M | ||
| 2004 | $410.26M | +4.2% | +$16.70M | ||
| 2003 | $393.56M | +0.5% | +$1.83M | ||
| 2002 | $391.73M | +14.5% | +$49.70M | ||
| 2001 | $342.03M | -12.0% | -$46.85M | ||
| 2000 | $388.88M | +66.6% | +$155.48M | ||
| 1999 | $233.40M | +10.4% | +$22.00M | ||
| 1998 | $211.40M | +8.1% | +$15.90M | ||
| 1997 | $195.50M | +43.4% | +$59.20M | ||
| 1996 | $136.30M | +97.3% | +$67.23M | ||
| 1995 | $69.07M | +81.3% | +$30.98M | ||
| 1994 | $38.09M | +48.8% | +$12.49M | ||
| 1993 | $25.60M | +80.3% | +$11.40M | ||
| 1992 | $14.20M | +17.4% | +$2.10M | ||
| 1991 | $12.10M | +59.2% | +$4.50M | ||
| 1990 | $7.60M | -50.3% | -$7.70M | ||
| 1989 | $15.30M | — | +$15.30M | ||
| 1988 | $0 | — | $0 | ||
| 1987 | $0 | — | $0 | ||
| 1986 | $0 | — | — |
The 2025 reading of Public Storage (PSA) dividends paid is $2.30B – edged up 0.1% year-over-year.
Across 2020–2025 (5 years), Public Storage dividends paid produced a CAGR of +7.5% – with the latest reading among the more recent periods of the dataset.
Between 2022 and 2025, Public Storage dividends paid plunged 41.1%, falling from $3.91B to $2.30B.
2022 marks the peak dividends paid at $3.91B, with the historical low of $0 recorded in 1986.
Within Real Estate, Public Storage (PSA) ranks 5th among 8 peers we track. The peer median for dividends paid is $2.34B.
Public Storage Dividends Paid 2025: $2.30B
Public Storage dividends paid in 2025 was $2.30B, edged up 0.1% from 2024.
Public Storage Dividends Paid 2024: $2.30B
Public Storage dividends paid in 2024 was $2.30B, edged down 0.1% below 2023.
Public Storage Dividends Paid 2023: $2.31B
Public Storage dividends paid in 2023 was $2.31B, plunged 41.0% below 2022.
Public Storage Dividends Paid 2022: $3.91B
Public Storage dividends paid in 2022 was $3.91B, surged 146.0% from 2021. This figure represents the highest annual value in the available history.
Public Storage Dividends Paid 2021: $1.59B
Public Storage dividends paid in 2021 was $1.59B.
See more financial history for Public Storage (PSA).
Sector peers by dividends paid
Companies in the same sector as Public Storage, ranked by their latest dividends paid.
| Company | Dividends Paid | Sector |
|---|---|---|
| Prologis (PLD) | $3.76B | Real Estate |
| American Tower (AMT) | $3.16B | Real Estate |
| Realty Income (O) | $2.92B | Real Estate |
| Simon Property Group (SPG) | $2.79B | Real Estate |
| Welltower (WELL) | $1.88B | Real Estate |
| Equinix (EQIX) | $1.86B | Real Estate |
| Digital Realty Trust (DLR) | $1.73B | Real Estate |
| Ventas (VTR) | $860.06M | Real Estate |
Frequently asked questions
Does Public Storage pay dividends?
Yes, Public Storage (PSA) pays quarterly dividends of approximately $12.00 per share annually, yielding 3.96%.
What is Public Storage's dividend yield?
Public Storage (PSA) has a current dividend yield of 3.96%.
Is Public Storage's dividend safe?
Public Storage (PSA) passes 4 out of 8 dividend safety checks. See the detailed breakdown above for each criterion.
How many consecutive years has Public Storage increased its dividend?
Public Storage (PSA) has 0 consecutive years of dividend increases.
What is Public Storage's dividend payout ratio?
Public Storage (PSA) has a dividend payout ratio of 123.8%. Trailing twelve months (GAAP): adjusted dividends over roughly 12 months aligned with the latest reported quarter, divided by the sum of diluted EPS from the last four fiscal quarters (not NII or taxable income for BDCs/REITs).
What is Public Storage's dividends paid?
Latest reported dividends paid for Public Storage (PSA) is $2.88B (period ending March 31, 2026).
How has Public Storage dividends paid changed year-over-year?
Public Storage (PSA) dividends paid changed +0.1% year-over-year on the latest annual filing.
What is the long-term growth rate of Public Storage dividends paid?
Public Storage (PSA) dividends paid compound annual growth rate is +7.5% over the most recent 5 years available.
When did Public Storage dividends paid hit its highest annual value?
Public Storage dividends paid reached its highest annual value of $3.91B in 2022.
What was Public Storage dividends paid in 2024?
Public Storage (PSA) dividends paid in 2024 was $2.30B.
What was Public Storage dividends paid in 2025?
Public Storage (PSA) dividends paid in 2025 was $2.30B.
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