NEW YORK--(BUSINESS WIRE)--SL Green Realty Corp. (NYSE: SLG), New York City’s largest office landlord, today reported that its board of directors has increased the Company’s quarterly dividend by 4.1 percent, to $0.885 per share on its common stock and OP units, resulting in a new annual dividend of $3.54 per share. The fourth quarter dividend is payable on January 15, 2020 to shareholders of record at the close of business on January 2, 2020.
“We are rewarding shareholders with another dividend increase as our Company continues to deliver,” said Matt DiLiberto, Chief Financial Officer at SL Green. "Our dividend yield of roughly 4.2 percent is generated by a portfolio of high-quality assets located in New York City’s best submarkets and we will continue executing on our strategy in 2020, enhancing the quality of our portfolio while maintaining the liquidity needed to advance our development and redevelopment projects as well as our share buyback program."
The board of directors also declared the regular quarterly dividend on the company’s Series I Preferred Stock for the period October 15, 2019 through and including January 14, 2020, of $0.40625 per share, which is the equivalent of an annualized dividend of $1.625 per share. The dividend will be payable January 15, 2020 to shareholders of record at the close of business on January 2, 2020.
About SL Green Realty Corp.
SL Green Realty Corp., an S&P 500 company and New York City's largest office landlord, is a fully integrated real estate investment trust, or REIT, that is focused primarily on acquiring, managing and maximizing value of Manhattan commercial properties. As of September 30, 2019, SL Green held interests in 93 Manhattan buildings totaling 45.0 million square feet. This included ownership interests in 27.2 million square feet of Manhattan buildings and 17.8 million square feet securing debt and preferred equity investments. In addition, SL Green held ownership interests in 7 suburban properties comprised of 15 buildings totaling 2.3 million square feet in Brooklyn, Westchester County, and Connecticut.
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