SL Green Realty Corp. (NYSE: SLG) today reported that its board
of directors increased the Company’s quarterly dividend by 32% and
declared a dividend of $0.33 per share of common stock for the quarter
ending December 31, 2012. The dividend is payable on January 15, 2013 to
shareholders of record at the close of business on January 2, 2013.
Marc Holliday, SL Green’s CEO, said, “The substantial increase in our
dividend is a benefit of the core growth in our operating results. Our
management team’s hard work continues to position us for highly
accretive investment opportunities, so it is our goal to continue to
retain and reinvest as much capital as we can. We believe we can
maintain this strategy while at the same time providing growth in
current returns to our shareholders and meeting our statutory REIT
requirements.”
The board of directors also declared the regular quarterly dividends on
the company's Series C and I Preferred Stock for the period October 15,
2012 through and including January 14, 2013, of $0.4766 and $0.40625 per
share, respectively, which are the equivalent of annualized dividends of
$1.9064 and $1.625, respectively. Dividends are payable January 15, 2013
to shareholders of record at the close of business on January 2, 2013.
About SL Green Realty Corp.
SL Green Realty Corp., New York City's largest office landlord, is the
only fully integrated real estate investment trust, or REIT, that is
focused primarily on acquiring, managing and maximizing value of
Manhattan commercial properties. As of September 30, 2012, SL Green
owned interests in 77 Manhattan properties totaling 39.3 million square
feet. This included ownership interests in 27.5 million square feet of
commercial properties and debt and preferred equity investments secured
by 11.8 million square feet of properties. In addition to its Manhattan
investments, SL Green holds ownership interests in 31 suburban assets
totaling 5.4 million square feet in Brooklyn, Long Island, Westchester
County, Connecticut and New Jersey, along with four development
properties in the suburbs encompassing approximately 0.5 million square
feet. The Company also has ownership interests in 31 properties totaling
4.5 million square feet in southern California.
Forward Looking Statements
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, including such matters as
future capital expenditures, dividends and acquisitions (including the
amount and nature thereof), development trends of the real estate
industry and the Manhattan, Brooklyn, Westchester County,
Connecticut, Long Island and New Jersey office markets, business
strategies, expansion and growth of our operations and other similar
matters, are forward-looking statements. These forward-looking
statements are based on certain assumptions and analyses made by us in
light of our experience and our perception of historical trends, current
conditions, expected future developments and other factors we believe
are appropriate.
Forward-looking statements are not guarantees of future performance
and actual results or developments may differ materially, 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 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. These risks and uncertainties
include dependence upon certain geographic markets; risks of real estate
acquisitions, dispositions and developments, including the cost of
construction delays and cost overruns; risks relating to structured
finance investments; availability and creditworthiness of prospective
tenants and borrowers; bankruptcy or insolvency of a major tenant or a
significant number of smaller tenants; adverse changes in the real
estate markets, including reduced demand for office space, increasing
vacancy, and increasing availability of sublease space; availability of
capital (debt and equity); unanticipated increases in financing and
other costs, including a rise in interest rates; our ability to comply
with financial covenants in our debt instruments; our ability to
maintain our status as a REIT; risks of investing through joint venture
structures, including the fulfillment by our partners of their financial
obligations; the continuing threat of terrorist attacks, in particular
in the New York metropolitan area and on our tenants; our ability to
obtain adequate insurance coverage at a reasonable cost and the
potential for losses in excess of our insurance coverage, including as a
result of environmental contamination; and legislative, regulatory
and/or safety requirements adversely affecting REITs and the real estate
business, including costs of compliance with the Americans with
Disabilities Act, the Fair Housing Act and other similar laws and
regulations.
Other factors and risks to our business, many of which are beyond our
control, are described in our filings with the Securities and Exchange
Commission. We undertake no obligation to publicly update or revise any
forward-looking statements, whether as a result of future events, new
information or otherwise.
