SL Green Realty hikes monthly dividend by 3% to $0.2575 per share
On December 6, 2024, SL Green Realty Corp (SLG) announced that it will hike its monthly dividend by 3% to 25.75 cents per share. This marks the first year with a dividend increase by SL Green Realty.
SL Green Realty has a dividend yield of 4% at a stock price of $76.44. The 5 year CAGR for the dividend is negative with -2.7%. The company announced lower dividends in both 2023 and 2024.
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."
SL Green Realty Corp., 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. In addition to its Manhattan buildings SL Green holds ownership interests in suburban in Brooklyn, Long Island, Westchester County, Connecticut and New Jersey.
