Storelocal®, the only cooperative of independent self storage owners, announced approval of their 2nd annual dividend of $60.00 per share of Owner Member Stock.
NEWPORT BEACH, CA, UNITED STATES, October 11, 2022 /EINPresswire.com/ — Storelocal®, the only cooperative of independent self storage owners worldwide, announced today that the Board of Directors has approved a 2nd annual dividend of $60.00 per share of Owner Member Stock in the co-op. The dividend is payable to owners on September 30th.
“This 2nd dividend is an important step in continuing our practice of sharing Storelocal Co-op success with the very owners who built it,” said Travis Morrow, CEO. “As we’ve expanded rapidly over the last year, our membership count is nearing 200 companies representing 1,400 locations. Through that engagement we’ve been able to provide increasing benefits to our members through the lift in our brand presence, community, and buying power.”
Steve Mirabito, a founding member of Storelocal and President of StoragePro, commented, “This 2nd annual dividend is just one of the many ways Storelocal has helped our bottom line. It’s exciting to see so many new members receive the same cost savings and industry knowledge that have been so valuable to StoragePro over the last eight years.”
Lance Watkins, founder of Storelocal and CEO of Tenant Inc., reacted to the news. “It’s gratifying to see the ways Storelocal is providing opportunities for independent self storage owners to grow their revenue through member benefits like the Storelocal Protection Plan. Congratulations to Travis and team for all they’ve built. I look forward to seeing them continue to grow in this next chapter.”
Distributions from the co-op are paid to its owner members through their participation in the larger group and with its Preferred Partners.
Storelocal is a cooperative of self-storage owners and operators coming together to increase their competitive advantage in the marketplace. Members leverage new and existing resources to lower their operational costs and increase their profit. Founded in 2014, Storelocal’s membership now encompasses approximately 1,400 independently owned self-storage facilities across 46 states and Canada. In addition to buying power deals available through the co-op, members also receive education, networking and knowledge sharing. Storelocal recently launched a tenant protection plan available exclusively to its members, as well as a voluntary brand option for members who wish to operate under the Storelocal Storage Co-op banner. More information about Storelocal can be found at www.selfstorage.coop
Storelocal Storage Co-op