This stock yields 9.12%, with an improved AFFO dividend payout ratio of 74%. Its five-year dividend growth rate is 12.94%. It has a growing data center division which had 8% in growth in Q1-2 2020.
Iron Mountain (IRM) was founded in 1951, and services 95% of the Fortune 1000 firms. It bills itself as a trusted provider, boasting a 98% retention rate. Although digitalization of records is often cited as a negative for IRM, the company also is active in digitization services. One major long-term positive factor is the fact that companies and government agencies are required by law to maintain records for several years.
Source: Seeking Alpha
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