CubeSmart Announces a 14% Annual Dividend Increase to $0.08/Share

CubeSmart

announced today that its Board of Trustees declared a quarterly dividend of $0.08 per common share for the period ending December 31, 2011. The dividend is payable on January 15, 2012 to common shareholders of record on January 5, 2012. The quarterly distribution represents an annualized dividend rate of $0.32 per share, a 14% increase from the previous annual rate of $0.28 per share. The Board of Trustees also declared a quarterly dividend of $0.3929 for the 7.75% Series A Cumulative Redeemable Preferred Shares payable on January 15, 2012 to holders of record on January 1, 2012.