Core Insights - StorageVault Canada Inc. reported strong second quarter results for 2025, with a same-store revenue growth of 6.6% and a net operating income (NOI) growth of 5.2%, leading to a 5.4% increase in adjusted funds from operations (AFFO) per common share [1][2][3] Financial Performance - Revenue for Q2 2025 increased to $83.5 million from $74.1 million in Q2 2024, marking a 12.7% increase, while NOI grew to $55.2 million from $49.9 million, a 10.6% increase [2][14] - Funds from operations (FFO) for Q2 2025 were $20.3 million, a 3.4% increase from $19.7 million in Q2 2024, and AFFO was $22.9 million, a 3.0% increase from $22.3 million [3][17] - The net loss for Q2 2025 was $6.2 million, an improvement from a net loss of $8.7 million in Q2 2024, influenced by non-cash and non-recurring items [2][6] Year-to-Date Results - For the six months ended June 30, 2025, revenue increased to $159.8 million from $145.5 million, a 9.8% increase, and NOI grew to $102.9 million from $94.2 million, a 9.2% increase [6][7] - The net loss for the first half of 2025 was $17.5 million, slightly worse than the net loss of $16.6 million in the same period of 2024 [6][7] Dividend Increase - StorageVault announced a 0.5% increase in its Q3 2025 dividend to $0.002976 per common share [9] Strategic Focus - The company aims to continue disciplined asset purchases and maintain a strong emphasis on cost control while maximizing revenues, NOI, and free cash flow [1][10] - StorageVault's growth strategy includes acquisitions, organic growth, and expansion of existing stores and services [10][18]

Company Overview - StorageVault Canada Inc. owns and operates 251 storage locations across Canada as of March 31, 2025 [2] - The company owns 221 of these locations and over 5,000 portable storage units, totaling over 12.7 million rentable square feet on over 728 acres of land [2] - StorageVault provides last mile storage and logistics solutions, as well as professional records management services including document and media storage, imaging, and shredding services [2] Dividend Announcement - StorageVault announced a quarterly dividend of $0.002961 per common share, payable on July 15, 2025 [1] - The record date for shareholders is June 30, 2025, with an ex-dividend date also set for June 30, 2025 [1] - This dividend has been designated as an "eligible dividend" for Canadian income tax purposes [1]

Core Points - StorageVault Canada Inc. held its annual general and special meeting on May 21, 2025, with 225 shareholders representing approximately 79.3% of total votes [1] - All matters proposed at the meeting were approved, including the re-appointment of MNP LLP as auditors and the approval of unallocated options under the stock option plan [1] - The number of directors was fixed at six, with all nominees elected as directors [2] Election of Directors - Benjamin Harris received 89.954% votes for and 10.046% withheld/abstained [2] - Iqbal Khan received 85.374% votes for and 14.626% withheld/abstained [2] - Deborah Robinson received 99.921% votes for and 0.079% withheld/abstained [2] - Steven Scott received 90.657% votes for and 9.343% withheld/abstained [2] - Alan A. Simpson received 91.136% votes for and 8.864% withheld/abstained [2] - Mary Vitug received 99.885% votes for and 0.115% withheld/abstained [2] Company Overview - As of March 31, 2025, StorageVault owned and operated 251 storage locations across Canada, including 221 owned locations and over 5,000 portable storage units [3] - The total rentable space managed by StorageVault exceeds 12.7 million square feet on over 728 acres of land [3] - The company also offers last mile storage and logistics solutions, along with professional records management services [3]