Public Storage Firms to Issue Extra Payments

Public Storage Properties X Inc. and Public Storage Properties XI Inc. said their stockholders will receive a one-time payment from the companies’ excess funds in addition to their regular second-quarter distribution.

The extra payments, to be made July 15, amount to 8 cents a share for PSP-X and 17 cents a share for PSP-XI. The companies’ directors are expected to declare the regular payout on May 15, which also would be paid July 15 to stockholders of record June 28.

The Glendale companies are real estate investment trusts whose shares trade on the American Stock Exchange. The trusts invest in real estate, primarily self-storage warehouses, and are formerly partnerships that were sponsored by Public Storage Inc., the nation’s largest operator of such facilities.