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
Todd and Julie Chrisley (Getty)
Reality stars Todd and Julie Chrisley report to prison
Reality stars Todd and Julie Chrisley report to prison
Brookfield's Bruce Flatt, 2 Manhattan West; SL Green's Marc Holliday, One Madison Avenue (Manhattan West, Getty, Brookfield, SL Green)
The 10 biggest Manhattan office leases of 2022
The 10 biggest Manhattan office leases of 2022
SL Green’s Brett Herschenfeld
Inside SL Green’s Times Square casino bid: podcast
Inside SL Green’s Times Square casino bid: podcast
SL Green's Marc Holliday, Frank Carone and Cushman & Wakefield's Brett White (SL Green, Getty, Cushman & Wakefield)
SL Green, Cushman suing tenants with Frank Carone ties
SL Green, Cushman suing tenants with Frank Carone ties
Boston Properties' Owen Thomas and SL Green's Marc Holliday (Boston Properties, SL Green, Getty)
Office developers widen their sights as sector’s uncertainty persists
Office developers widen their sights as sector’s uncertainty persists
arrow_forward_ios

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

Loading...