SL Green Realty Corp. (NYSE: SLG) today reported that its board of directors increased the Company’s quarterly dividend by 32% and declared a dividend of $0.33 per share of common stock for the quarter ending December 31, 2012. The dividend is payable on January 15, 2013 to shareholders of record at the close of business on January 2, 2013.
Marc Holliday, SL Green’s CEO, said, “The substantial increase in our dividend is a benefit of the core growth in our operating results. Our management team’s hard work continues to position us for highly accretive investment opportunities, so it is our goal to continue to retain and reinvest as much capital as we can. We believe we can maintain this strategy while at the same time providing growth in current returns to our shareholders and meeting our statutory REIT requirements.”
The board of directors also declared the regular quarterly dividends on the company's Series C and I Preferred Stock for the period October 15, 2012 through and including January 14, 2013, of $0.4766 and $0.40625 per share, respectively, which are the equivalent of annualized dividends of $1.9064 and $1.625, respectively. Dividends are payable January 15, 2013 to shareholders of record at the close of business on January 2, 2013.
About SL Green Realty Corp.SL Green Realty Corp., New York City's largest office landlord, is the only 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, 2012, SL Green owned interests in 77 Manhattan properties totaling 39.3 million square feet. This included ownership interests in 27.5 million square feet of commercial properties and debt and preferred equity investments secured by 11.8 million square feet of properties. In addition to its Manhattan investments, SL Green holds ownership interests in 31 suburban assets totaling 5.4 million square feet in Brooklyn, Long Island, Westchester County, Connecticut and New Jersey, along with four development properties in the suburbs encompassing approximately 0.5 million square feet. The Company also has ownership interests in 31 properties totaling 4.5 million square feet in southern California.