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Trading in the company’s shares was halted on Friday pending an announcement related to mergers and acquisitions. Warburg Pincus, ESR’s largest shareholder with a 14% stake, plans to roll over its holdings into the new private entity rather than sell for cash, according to one of the sources.
Acquiring high-quality companies in adjacent, similar verticals to its existing business lines, Federal Signal has become a 13-bagger since 2011. However, as promising as the company's two biggest sub-segments are, Federal Signal isn't resting on its laurels, having made 11 acquisitions since 2016, expanding into new verticals as it goes.
It could grow even faster if it makes acquisitions. Powering those returns is the rapid growth in its core FFO per share (695% since 2011) and dividend (548% over the last decade). The REIT recently closed its needle-moving merger with Life Storage, forming the largest self-storage operator in the country. at present).
It's proof of both business success and a staunch commitment to returning value to shareholders. The renewable energy giant has grown its payout by at least 5% per year since its public listing in 2011. Regulated utility Black Hills is just such a Dividend King. So Black Hills looks fairly well priced today.
Broadcom had just increased its dividend by 12% right before I bought shares, which was its 12th straight year of dividend growth since the company initiated the payout in fiscal 2011. It just closed its acquisition of VMWare, which will accelerate the growth of its software business. billion deal earlier this year.
Our forward-looking statements do not reflect the potential impact of significant transactions we may enter into such as mergers, acquisitions, dispositions, joint ventures, or any material agreements that we may enter into, amend, or terminate. We take very seriously our obligation to drive shareholder value.
That fast-growing platform has been key in driving Extra Space's scorching core-FFO-per-share growth rate of 695% since 2011. It recently closed its merger with rival Life Storage to become the largest operator in the sector. The company has benefited from rent growth, development projects, and acquisitions.
I will also reinforce how we are building a business that will grow profitably without the need for mergers or acquisitions and, therefore, which has the luxury of us looking at external opportunities for the few that may meet our strict value investment criteria. This has reinforced our determination to achieve our goal of zero.
Operator instructions] At this time, I'd like to turn the conference over to Weston Tucker, head of shareholder relations. Weston Tucker -- Head of Shareholder Relations Thank you, Katie, and good morning. In 2011, we launched a dedicated private wealth business. Weston Tucker -- Head of Shareholder Relations Thanks, Alex.
I want to start this presentation with some reflection back to the time of the merger, where we committed to a clear strategy for building the new Barrick into the world's most valued mining company. And last year, we made tangible progress in what we call our journey to zero, posting the best results since the merger.
Matt Levine : 00:05:09 There’s some of that, but like, you have to like, like yeah, you’re like writing merger agreements and then the other side is marking up the merger agreement and like you’re arguing over commas and stuff. We’ll bring a very straightforward class action on behalf of the shareholders.
What killed a merger between Kroger and Albertsons. Last week, a federal judge in Oregon blocked what was going to be a massive merger, $25 billion merger between Kroger and Albertsons. Ricky Mulvey: The money intended for the merger on both sides is going to be used for stock buybacks. You heard it here first.
We navigated some tough market demand conditions and the distractions of the terminated merger with WillScot. We also have opportunities for additional long-term growth in several regional markets where we gained an initial foothold through our modular acquisitions. Long term, we believe strongly in the horsepower of this business.
Cutting the corporate tax rate would support a multitrillion investment On paper, if select businesses are able to hang onto more of the cash they generate from their operations, it can result in an uptick in hiring, an increase in wages for existing workers, more merger and acquisition activity, and additional investment in innovation.
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