Shurgard Announces Second Quarter Dividend and Adds Jerry L. Calhoun to the Board of Directors
11 August 2005 - 11:45PM
Business Wire
Shurgard Storage Centers, Inc. (NYSE:SHU), a leading self-storage
real estate investment trust (REIT) in the United States and
Europe, today announced its second quarter 2005 dividend. The Board
of Directors declared a second quarter dividend of $0.56 per share.
The dividend is payable on September 6, 2005, to shareholders of
record as of August 25, 2005. Shurgard also announced that its
Board of Directors has appointed Jerry L. Calhoun, Vice President,
Human Resources for The Boeing Company's Commercial Airplanes
Group, to Shurgard's Board of Directors effective August 11, 2005.
The addition of Mr. Calhoun increases the Board of Directors'
membership to nine, and the number of its independent directors to
seven. Mr. Calhoun was appointed to the Audit, Finance and
Compensation Committees. "We are extremely pleased to welcome Jerry
Calhoun to the Shurgard Board," said Charles K. Barbo, Chairman and
Chief Executive Officer. "He has great vision and values, brings an
enormous amount of experience in the field of organizational
development, and is highly respected in our community. I believe
that Shurgard's shareholders will be well served by the addition of
Mr. Calhoun to the Board." Jerry L. Calhoun has more than 38 years
of human resources and labor relations experience. Mr. Calhoun has
worked for The Boeing Company (NYSE:BA) for a total of 35 years,
interrupted only by service as a Deputy Assistant Secretary of
Defense from 1981-83 and Chairman of the Federal Labor Relations
Authority (FLRA) from 1985-89. Mr. Calhoun received his B.A. from
Seattle University, his M.B.A from the University of Washington and
also attended the Arizona State University School of Law. Mr.
Calhoun serves as a Director of the Labor Relations Research
Association, Boston, Massachusetts, the Intiman Theater, Seattle,
Washington, and the Council on Labor Law Equality, Washington D.C.
About Shurgard Storage Centers, Inc. Shurgard Storage Centers, Inc.
is a real estate investment trust headquartered in Seattle,
Washington. Shurgard specializes in all aspects of the self-storage
industry and operates a network of over 640 operating storage
centers located throughout the United States and in Europe. Forward
Looking Statements This press release contains statements that are
not based on historical fact and are "forward-looking statements"
within the meaning of the Private Securities Litigation Reform Act
of 1995. Statements in this release concerning the beliefs,
expectations, intentions, future events, future performance,
business prospects and business strategy in the United States and
Europe, including statements regarding projections for 2005 and
beyond, are based on several assumptions. If any of these
assumptions are not satisfied or prove to be incorrect, actual
results could differ materially from those indicated in the
forward-looking statements, depending on a variety of factors
including, but not limited to, Shurgard's ability to implement its
business strategy, competition in the market, as well as other risk
factors as described more fully in Shurgard's Annual Report on Form
10-K for the year ended December 31, 2004, filed with the
Securities and Exchange Commission on March 29, 2005, its report on
Form 10-Q for the quarter ended March 31, 2005, filed on May 10,
2005, and Form 10-Q for the quarter ended June 30, 2005, on August
9, 2005. The information presented in this release reflects
Shurgard's expectations as of the date of this release. Except as
required by law, Shurgard undertakes no obligation to update or
revise the information herein.
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