NEW YORK--(EON: Enhanced Online News)--SL Green Realty Corp. (NYSE:SLG), today reported that its board of directors increased the Company’s quarterly dividend on its common stock and OP units by 7.6%, resulting in a new annual dividend of $3.10 per share. In connection therewith, the board of directors declared the fourth quarter dividend of $0.775 per share of common stock. The dividend is payable on January 17, 2017 to shareholders of record at the close of business on January 3, 2017.
“The earnings power of the SL Green platform provides us with the ability to meaningfully increase our common dividend again in 2017. This increase will immediately benefit our shareholders, while allowing us to retain ample liquidity to fund the Company’s ongoing capital projects and take advantage of compelling investment opportunities.”
Matt DiLiberto, SL Green’s Chief Financial Officer, said, “The earnings power of the SL Green platform provides us with the ability to meaningfully increase our common dividend again in 2017. This increase will immediately benefit our shareholders, while allowing us to retain ample liquidity to fund the Company’s ongoing capital projects and take advantage of compelling investment opportunities.”
The board of directors also declared the regular quarterly dividend on the company's Series I Preferred Stock for the period October 15, 2016 through and including January 14, 2017, of $0.40625 per share, which is the equivalent of an annualized dividend of $1.625 per share. The dividend will be payable January 17, 2017 to shareholders of record at the close of business on January 3, 2017.
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, 2016, SL Green held interests in 125 Manhattan buildings totaling 46.6 million square feet. This included ownership interests in 28.1 million square feet of commercial buildings and debt and preferred equity investments secured by 18.6 million square feet of buildings. In addition, SL Green held ownership interests in 30 suburban buildings totaling 4.8 million square feet in Brooklyn, Long Island, Westchester County, Connecticut and New Jersey. For more information, please visit: http://slgreen.com/.
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