SL Green Realty Corp. Announces Increase in Annual Ordinary Dividend to $3.09 per Share

Rhea-AI Summary

SL Green Realty Corp (NYSE: SLG), Manhattan's largest office landlord, has announced a 3.0% increase in its annual ordinary dividend to $3.09 per share for 2025. The dividend will be paid monthly in cash, with the first payment of $0.2575 per share scheduled for January 15, 2025, to stockholders of record as of December 31, 2024.

Additionally, the company declared a quarterly dividend on Series I Preferred Stock of $0.40625 per share for the period October 15, 2024, through January 14, 2025, equivalent to an annualized dividend of $1.625 per share, payable January 15, 2025.

Positive

• 3.0% increase in annual ordinary dividend to $3.09 per share
• Growth in earnings and taxable income
• Strong performance in Manhattan office market

Negative

• None.

NEW YORK, Dec. 06, 2024 (GLOBE NEWSWIRE) -- SL Green Realty Corp. (NYSE: SLG), Manhattan's largest office landlord, announced today that its board of directors has established an annual ordinary dividend on SL Green's common stock for 2025 of $3.09 per share, an increase of 3.0%. The ordinary dividend will continue to be paid in cash on a monthly basis. The first monthly ordinary dividend of $0.2575 per share is payable on January 15, 2025, to stockholders of record at the close of business on December 31, 2024.

"We are proud to reward our shareholders with an increase in our ordinary dividend as earnings and taxable income grow amid the backdrop of the best performing office market in the country," said Matt DiLiberto, Chief Financial Officer. "Providing a sustainable, recurring cash dividend to our shareholders is a fundamental part of our business strategy."

The board of directors also declared the regular quarterly dividend on the company's Series I Preferred Stock for the period October 15, 2024 through January 14, 2025 of $0.40625 per share, which is the equivalent of an annualized dividend of $1.625 per share. The dividend is payable in cash on January 15, 2025 to shareholders of record at the close of business on December 31, 2024.

About SL Green Realty Corp.

SL Green Realty Corp., Manhattan'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, 2024, SL Green held interests in 55 buildings totaling 31.8 million square feet. This included ownership interests in 28.1 million square feet of Manhattan buildings and 2.8 million square feet securing debt and preferred equity investments.

Forward-Looking Statement

This press release includes certain statements that may be deemed to be "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and are intended to be covered by the safe harbor provisions thereof. All statements, other than statements of historical facts, included in this press release that address activities, events or developments that we expect, believe or anticipate will or may occur in the future, including such matters as future capital expenditures, dividends and acquisitions (including the amount and nature thereof), development trends of the real estate industry and the New York metropolitan area markets, occupancy, business strategies, expansion and growth of our operations and other similar matters, are forward-looking statements. These forward-looking statements are based on certain assumptions and analyses made by us in light of our experience and our perception of historical trends, current conditions, expected future developments and other factors we believe are appropriate. Forward-looking statements are not guarantees of future performance and actual results or developments may differ materially, and we caution you not to place undue reliance on such statements. Forward-looking statements are generally identifiable by the use of the words "may," "will," "should," "expect," "anticipate," "estimate," "believe," "intend," "project," "continue," or the negative of these words, or other similar words or terms.

Forward-looking statements contained in this press release are subject to a number of risks and uncertainties, many of which are beyond our control, that may cause our actual results, performance or achievements to be materially different from future results, performance or achievements expressed or implied by forward-looking statements made by us. Factors and risks to our business that could cause actual results to differ from those contained in the forward-looking statements include risks and uncertainties described in our filings with the Securities and Exchange Commission. Except to the extent required by law, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of future events, new information or otherwise.

PRESS CONTACT
slgreen@berlinrosen.com

SLG – DIV

FAQ

What is SL Green's new annual dividend for 2025?

SL Green (SLG) has increased its annual ordinary dividend to $3.09 per share for 2025, representing a 3.0% increase.

When will SLG pay its first monthly dividend in 2025?

SLG will pay its first monthly dividend of $0.2575 per share on January 15, 2025, to stockholders of record as of December 31, 2024.

How frequently does SLG pay its ordinary dividends?

SLG pays its ordinary dividends on a monthly basis in cash.

What is SLG's Series I Preferred Stock quarterly dividend?

SLG's Series I Preferred Stock quarterly dividend is $0.40625 per share, equivalent to an annualized dividend of $1.625 per share.