Public Storage (PSA) Dividend
Public Storage · Real Estate · REIT - Industrial · quarterly payer
As of Nov 9, 2026, Public Storage (PSA) pays a quarterly dividend of $3.00 per share, or $12.00 a year, a 3.56% yield at its $337.46 share price. The next ex-dividend date is Dec 15, 2026, paid Jan 8, 2027. It has a dividend safety grade of A.
Forward Yield
3.56%
Annual Dividend
$12.00
Payout Ratio
126%
5-Yr Growth
8.4%
Ex-Date
Dec 15, 2026
Frequency
Quarterly
Key facts about PSA's dividend
Data as of · Source: SmarterDividends data
- As of Nov 9, 2026, Public Storage (PSA) has a forward dividend yield of 3.56%, based on an annual dividend of $12.00 per share and a share price of $337.46.
- As of Nov 9, 2026, PSA's dividend safety grade from SmarterDividends is A (87 out of 100), which rates the dividend as very safe.
- PSA last cut its regular dividend in 1990.
- PSA's next ex-dividend date is Dec 15, 2026, with payment on Jan 8, 2027. Shares must be owned before that date to receive the dividend.
- As of Nov 9, 2026, PSA pays out 126% of its trailing 12-month earnings as dividends (its payout ratio).
- PSA's dividend has grown at an average rate of 8.4% a year over the past five years.
- As of Nov 9, 2026, PSA's 3.56% yield is 17% below its five-year average yield of 4.29%.
- As of Nov 9, 2026, SmarterDividends' blended fair-value estimate for PSA is $305.62 per share, 9% below the $337.46 share price, so PSA screens as fairly valued.
- Public Storage (PSA) pays its dividend quarterly, 4 times a year.
- Public Storage (PSA) has raised its regular dividend 16 times and cut it 1 time across the 157 payments on record since 1988. Its most recent change was a 50.0% increase to $3.00 per share, going ex-dividend on Mar 14, 2023. The last cut went ex-dividend on Mar 6, 1990.
Cite this page
SmarterDividends, "PSA Dividend: Yield, Safety Grade & Next Ex-Date," updated Nov 9, 2026, https://smarterdividends.com/stocks/PSA
Is PSA a good dividend stock?
YesPublic Storage (PSA) pays a quarterly dividend yielding 3.56% ($12.00/yr), with 0 years of growth and a dividend-safety grade of A. It scores well across payout coverage, growth history and safety — a dependable income holding.
Advantages
- Strong 8.4% 5-yr dividend growth
- Top-tier dividend safety score
Risks
- Cut its dividend in 1990
- Elevated payout ratio (126%)
Key Data
- Dividend Yield
- 3.56%
- Payout Ratio
- 126%
- Annual Dividend
- $12.00
- 5-Yr Avg Growth
- 8.4%
- Ex-Dividend Date
- Dec 15, 2026
- Years of Growth
- 0
- Frequency
- quarterly
- Beta
- 0.87
- Market Cap
- $63.1B
- P/E Ratio
- 35.5
- 5-Yr Total Return
- 3%
- 52-Week Range
- $256.54 – $345.89
- Dividend Safety
- A · 87/100
- Ever Cut?
- Yes (1990)
PSA dividend raises and cuts
Public Storage (PSA) has raised its regular dividend 16 times and cut it 1 time across the 157 payments on record since 1988. Its most recent change was a 50.0% increase to $3.00 per share, going ex-dividend on Mar 14, 2023. The last cut went ex-dividend on Mar 6, 1990.
| Ex-date | Change | Old → new | Move |
|---|---|---|---|
| Mar 14, 2023 | Raise | $2.00 → $3.00 | +50.0% |
| Dec 12, 2016 | Raise | $1.80 → $2.00 | +11.1% |
| Jun 13, 2016 | Raise | $1.70 → $1.80 | +5.9% |
| Jun 11, 2015 | Raise | $1.40 → $1.70 | +21.4% |
| Dec 11, 2013 | Raise | $1.25 → $1.40 | +12.0% |
| Mar 11, 2013 | Raise | $1.10 → $1.25 | +13.6% |
| Mar 12, 2012 | Raise | $0.950 → $1.10 | +15.8% |
| Jun 13, 2011 | Raise | $0.800 → $0.950 | +18.7% |
| Jun 11, 2010 | Raise | $0.650 → $0.800 | +23.1% |
| Mar 11, 2010 | Raise | $0.550 → $0.650 | +18.2% |
| Mar 12, 2008 | Raise | $0.500 → $0.550 | +10.0% |
| Sep 13, 2005 | Raise | $0.450 → $0.500 | +11.1% |
Show all 17 changes since 1990
| Ex-date | Change | Old → new | Move |
|---|---|---|---|
| Dec 12, 2001 | Raise | $0.220 → $0.450 | +104.5% |
| Dec 9, 1994 | Raise | $0.210 → $0.220 | +4.8% |
| Aug 26, 1991 | Raise | $0.200 → $0.210 | +5.0% |
| May 24, 1990 | Raise | $0.0500 → $0.200 | +300.0% |
| Mar 6, 1990 | Cut | $0.350 → $0.0500 | −85.7% |
Frequently Asked Questions
Is PSA a good dividend stock?
Yes. Public Storage (PSA) pays a quarterly dividend yielding 3.56% ($12.00/yr), with 0 years of growth and a dividend-safety grade of A. It scores well across payout coverage, growth history and safety — a dependable income holding.
Is PSA undervalued?
Based on a blend of discounted cash flow, a dividend-discount model and an earnings-multiple estimate, PSA's fair value is about $305.62 versus a $337.46 share price — so it looks fairly valued (-9% vs. fair value).
Is PSA's dividend safe?
PSA has a dividend-safety grade of A (87/100), based on its payout coverage, free-cash-flow, 0-year growth streak, a dividend cut in 1990, debt and yield-versus-history.
What is PSA's fair value?
Our blended fair-value estimate for PSA is about $305.62 per share, about 9% below the current $337.46 price — combining a discounted cash flow, a dividend-discount model and an earnings multiple.
Is PSA a buy, hold, or sell?
We don't issue formal ratings, but on the data PSA screens as "yes" and fairly valued. Public Storage (PSA) pays a quarterly dividend yielding 3.56% ($12.00/yr), with 0 years of growth and a dividend-safety grade of A. It scores well across payout coverage, growth history and safety — a dependable income holding. This is research for your own analysis, not investment advice.
Will PSA cut its dividend?
PSA earns a dividend-safety grade of A (87/100), and has cut its dividend before (last in 1990). A higher score means lower cut risk based on payout coverage, cash flow and history — but no score guarantees a dividend.
Does PSA pay a dividend?
Yes. Public Storage pays a quarterly dividend of about $12.00 per share annually, a forward yield of roughly 3.56%.
How much dividend does 100 shares of PSA pay?
At $12.00 per share a year, 100 shares of PSA pay $1,200.00 a year in dividends before tax, about $300.00 each quarter. Buying them costs about $33,746 at the Nov 9, 2026 price.
What is PSA's dividend yield?
As of Nov 9, 2026, PSA's forward dividend yield is 3.56%, based on a $12.00 annual dividend and a $337.46 share price.
What is PSA's dividend per share?
As of Nov 9, 2026, PSA pays $12.00 per share per year, distributed on a quarterly basis.
What is PSA's dividend payout ratio?
As of Nov 9, 2026, PSA's payout ratio is 126% of trailing 12-month earnings — an elevated level worth watching, as it leaves less cushion if earnings dip.
How many years has PSA grown its dividend?
PSA does not currently have a long dividend-growth streak on record.
When is the next PSA ex-dividend date?
As of Nov 9, 2026, the next ex-dividend date on record for PSA is Dec 15, 2026.
PSA Price — Last 12 Months
Daily close
Price Return
1 Year
+23%
3 Years
+30%
5 Years
+3%
52-Week Range
$256.54 – $345.89
Price change over each period (excludes dividends). Past performance doesn't guarantee future results.
What is PSA worth?
Fairly valuedlow confidenceOur blended fair-value estimate for Public Storage is $305.62 per share, versus a market price of $337.46. That implies the stock is roughly fairly priced.
Fair Value
$305.62
Current Price
$337.46
Gap
-9%
Margin of Safety
-10%
How we get there
Dividend discount
Discounts the future dividend stream back to today.
Assumptions: 8.7% discount rate (CAPM), 12.0% growth for five years fading to 2.5% over the next five, $9.51 EPS, $12.00 annual dividend. Updated weekly.
Fair-value estimates are model output for educational purposes only — not investment advice or a price target.
PSA Dividend Safety Score
Very Safe
SmarterDividends' proprietary score, backtested against which dividends were actually cut over 15+ years (0.78 AUC). It blends a validated cut-risk model (growth streak, cut history) with current payout, cash-flow and debt. Higher is safer · not investment advice.
Dividend Growth
Total dividends per share by year
Dividend History
Full PSA dividend history →| Ex-Date | Pay Date | Amount | Type |
|---|---|---|---|
| Sep 15, 2026 | Oct 6, 2026 | $3.0000 | regular |
| Jun 15, 2026 | Jun 30, 2026 | $3.0000 | regular |
| Mar 16, 2026 | Mar 31, 2026 | $3.0000 | regular |
| Dec 15, 2025 | Dec 30, 2025 | $3.0000 | regular |
| Sep 15, 2025 | Sep 30, 2025 | $3.0000 | regular |
| Jun 12, 2025 | Jun 27, 2025 | $3.0000 | regular |
| Mar 13, 2025 | Mar 28, 2025 | $3.0000 | regular |
| Dec 13, 2024 | Dec 30, 2024 | $3.0000 | regular |
| Sep 13, 2024 | Sep 30, 2024 | $3.0000 | regular |
| Jun 12, 2024 | Jun 27, 2024 | $3.0000 | regular |
| Mar 12, 2024 | Mar 28, 2024 | $3.0000 | regular |
| Dec 12, 2023 | Dec 28, 2023 | $3.0000 | regular |
| Sep 12, 2023 | Sep 28, 2023 | $3.0000 | regular |
| Jun 13, 2023 | Jun 29, 2023 | $3.0000 | regular |
Income Calculator
At $12.00 / yr per share
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