Blossoming dividends rain cash on SL Green shareholders

TRD New York /
Oct.October 24, 2013 05:51 PM

SL Green Realty’s shareholders are celebrating an early holiday gift this year, as the company announced today that it will increase dividends by more than 50 percent.

The windfall comes thanks to an exceptional third quarter for the real estate investment trust, in which 25 Manhattan office leases spanning a total of 441,338 square feet, along with 28 suburban leases of more than 142,000 square feet, were secured.

Same-store occupancy in Manhattan, which includes leases that have been signed but not yet started, also ticked up to 95.8 percent in the third quarter.

The bustling activity raised the REIT’s dividend to a new annual rate of $2 per share, up 52 percent.

SL Green has also had a busy quarter with mixed-use residential and commercial investment, including the purchase of the $386 million Olivia apartment tower at 315 West 33rd Street and a $220.3 million, 350,000-square-foot office building at 333 West 34th Street. [GlobeSt]Julie Strickland


Related Articles

arrow_forward_ios
The Daily News Building at 220 East 42nd Street and SL Green CEO Marc Holliday (Credit: Getty Images)

SL Green puts Daily News building up for sale

SL Green snags private-equity firm at One Vanderbilt

SL Green snags private-equity firm at
One Vanderbilt

SL Green’s locks in big bank lease at Hudson Yards redevelopment site

SL Green’s locks in big bank lease at
Hudson Yards redevelopment site

The Daily News Building at 220 East 42nd Street and SL Green CEO Marc Holliday (Credit: Getty Images)

Jacob Chetrit buying Daily News building from SL Green for $815M

Marc Holliday and rendering of One Vanderbilt

Sentinel Capital Partners becomes latest firm to ink deal at One Vanderbilt

Suri Kasirer

WATCH: Suri Kasirer on the influence of her father’s Holocaust stories and lobbying hard for the Vanderbilt Corridor and Cornell Tech

Lawsuits, pop-ups and ragers: Why 60 Guilders took a $25M loss on its prized Soho retail property

Lawsuits, pop-ups and ragers: Why 60 Guilders took a $25M loss on its prized Soho retail property

Savanna picks up 521 Fifth Ave for $381M

Savanna picks up 521 Fifth Ave for $381M

arrow_forward_ios