SL Green Realty Corp. has announced an increase in its annual ordinary dividend to $3.09 per share, marking a 3.0% increase from the previous period. The ordinary dividend will continue to be paid in cash on a monthly basis, with the first monthly ordinary dividend of $0.2575 per share payable on January 15, 2025. This represents a positive development for shareholders, as the company's earnings and taxable income have grown amid the backdrop of the best performing office market in the country.
In addition to the ordinary dividend increase, the board of directors declared the regular quarterly dividend on the company's series I preferred stock for the period October 15, 2024 through January 14, 2025, at $0.40625 per share, equivalent to an annualized dividend of $1.625 per share. This cash dividend is payable on January 15, 2025, further contributing to the company's commitment to providing sustainable, recurring cash dividends to its shareholders.
As of September 30, 2024, SL Green held interests in 55 buildings totaling 31.8 million square feet, including ownership interests in 28.1 million square feet of Manhattan buildings and 2.8 million square feet securing debt and preferred equity investments. This indicates the company's significant presence and involvement in the Manhattan commercial properties market.
Today the company's shares have moved 4.2% to a price of $78.34. If you want to know more, read the company's complete 8-K report here.
