Blossoming dividends rain cash on SL Green shareholders

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 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 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
SL Green’s locks in big bank lease at
Hudson Yards redevelopment site
HNA Group's Guoqing Chen, 245 Park Avenue in Manhattan and 181 West Madison Street in Chicago (Committee of 100, Wikimedia)
HNA entity puts Park Avenue office tower, Chicago Loop high-rise in bankruptcy
HNA entity puts Park Avenue office tower, Chicago Loop high-rise in bankruptcy
590 Fifth Avenue and SL Green CEO Marc Holliday (SL Green)
SL Green sells 590 Fifth Avenue for $103M
SL Green sells 590 Fifth Avenue for $103M
SL Green CEO Marc Holliday, Chelsea Piers Fitness CEO David Tewksbury and One Madison Avenue (Getty, SL Green)
Chelsea Piers is coming to SL Green’s One Madison
Chelsea Piers is coming to SL Green’s One Madison
SL Green buys stake in 1601 Broadway for $121M
SL Green buys stake in 1601 Broadway for $121M
SL Green buys stake in 1601 Broadway for $121M
A&E’s Douglas Eisenberg and the apartments (Stonehenge 57)
Tennessee pension fund joins A&E on Sutton Place apartments
Tennessee pension fund joins A&E on Sutton Place apartments
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...