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Sovran Self Storage hikes dividend by 13 percent

Sovran Self Storage is hiking its dividend by 13 percent as the Amherst-based self storage facility operator’s business has strengthened.

Sovran said it is increasing its quarterly dividend by a dime to 85 cents per share. The dividend, which is payable July 27 to shareholders of record on July 17, has been increased five times in the past three years as Sovran’s earnings have improved and occupancy levels at its Uncle Bob’s stores have reached near-record highs.