Sovran SelfStorage Inc.'s board of directors on April 4 declared an 11.8%increase in the company's dividend, boosting it to 95 cents per share of commonstock from 85 cents per share.

The increased payout begins with the company's quarterlydividend to be paid on April 26 to shareholders of record on April 14.

The new dividend equates to an annual yield of approximately3.2%, based on the April 1 closing share price of Sovran's stock.