The Real Deal Miami

SL Green cuts fourth-quarter dividend

December 30, 2008 03:30PM

SL Green Realty Corp. announced yesterday that it is cutting its
fourth-quarter dividend to 37 cents per common share, down from 78
cents in the fourth quarter of 2007. The company hopes the move will
conserve about $95 million for the company in 2009, CEO Marc Holliday
said in a statement. Holliday said he hopes the savings will allow the
company to take advantage of investment opportunities and pay off its
debt.