SL Green ups annual dividend by 20 percent

Hike to $2.40 per share puts REIT in league with Boston Properties, Paramount Group

Marc Holliday and 50 West 47th Street
Marc Holliday and 50 West 47th Street

SL Green Realty is hiking its yearly dividend by 20 percent due to a surge in the landlord’s income and the signing of several new leases.

The increase to $2.40 per share is slated to take effect next month. SL Green has been gradually hiking the dividend — from 40 cents per share in 2010 to $2 per share this year. Competing real estate investment trusts such as Paramount Group, Mort Zuckerman’s Boston Properties and Anthony Malkin’s Empire State Realty Trust offer dividends that pay out about 2 percent of the share prices.

Sign Up for the undefined Newsletter

“The momentum of our platform continues to benefit from a strong leasing market, operating results in our core and redevelopment portfolios, and our debt and preferred-equity program,” SL Green’s Andrew Mathias said in a statement.

In September, SL Green acquired the upper floors of Extell Development’s International Gem Tower in a deal worth $275 million, as reported. Mark Maurer