SL Green Realty Corp. (NYSE:SLG), Manhattan’s largest office landlord, today announced that its board of directors has declared a monthly dividend of $0.295 per share of common stock. The dividend is payable on April 15, 2020 to shareholders of record at the close of business on March 31, 2020.
“We endeavor to reward our shareholders with a consistent dividend while recognizing the need to maximize liquidity,” said Matt DiLiberto, Chief Financial Officer of SL Green. “Modifying our dividend policy from quarterly payments to monthly payments will allow us to better match our distributions to the operating cash flow we recognize in this current market environment.”
The board of directors also declared the regular quarterly dividend on the company's Series I Preferred Stock for the period January 15, 2020 through April 14, 2020 of $0.40625 per share, which is the equivalent of an annualized dividend of $1.625 per share. The dividend will be payable on April 15, 2020 to shareholders of record at the close of business on March 31, 2020.
About SL Green
SL Green Realty Corp., an S&P 500 company and Manhattan's largest office landlord, is a fully integrated real estate investment trust, or REIT, that is focused primarily on acquiring, managing and maximizing value of Manhattan commercial properties. As of December 31, 2019, SL Green held interests in 97 buildings totaling 44.0 million square feet. This included ownership interests in 26.5 million square feet of Manhattan buildings and 16.4 million square feet securing debt and preferred equity investments.
Forward Looking Statement
This press release includes certain statements that may be deemed to be “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 and are intended to be covered by the safe harbor provisions thereof. All statements, other than statements of historical facts, included in this press release that address activities, events or developments that we expect, believe or anticipate will or may occur in the future, are forward-looking statements. Forward-looking statements are not guarantees of future performance and we caution you not to place undue reliance on such statements. Forward-looking statements are generally identifiable by the use of the words “may,” “will,” “should,” “expect,” “anticipate,” “estimate,” “believe,” “intend,” “project,” “continue,” or the negative of these words, or other similar words or terms.
Forward-looking statements contained in this press release are subject to a number of risks and uncertainties, many of which are beyond our control, that may cause our actual results, performance or achievements to be materially different from future results, performance or achievements expressed or implied by forward-looking statements made by us. Factors and risks to our business that could cause actual results to differ from those contained in the forward-looking statements are described in our filings with the Securities and Exchange Commission. These risks and uncertainties include, but are not limited to, potential risks and uncertainties relating to the novel coronavirus (COVID-19).
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Source: SL Green Realty Corp.
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