Press Release Details
SL Green Realty Corp. Announces Third Quarter Dividend
New York, NY, September 15, 2003 --SL Green Realty Corp. (NYSE: SLG) today reported that its Board of Directors has declared a dividend distribution of $0.4650 per common share for the quarter ending September 30, 2003. The dividend is payable October 15, 2003 to shareholders of record on the close of business on September 30, 2003.
This distribution reflects the regular quarterly dividend, which is the equivalent of an annualized distribution of $1.86. Based on Friday's closing price, the common share annualized dividend yield is 5.1%.
The Company's Board of Directors also declared a dividend distribution on the Company's Series A Preferred Stock for the quarter ending September 30, 2003, of $0.50 per share, payable October 15, 2003 to shareholders of record on the close of business on September 30, 2003. As previously announced, the Company will be converting the Series A Preferred Stock into common shares after the close of business on September 30, 2003. These common shares will be tradable on October 1, 2003.
The distribution reflects the regular quarterly dividend which represents an annualized distribution of $2.00 per share.
SL Green Realty Corp. is a self-administered and self-managed real estate investment trust ("REIT") that acquires, owns, repositions and manages a portfolio of Manhattan office properties. The Company is the only publicly held REIT which specializes exclusively in this niche.
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Forward-looking Information
This press release contains forward-looking information based upon the Company's current best judgment and expectations. Actual results could vary from those presented herein. The risks and uncertainties associated with forward-looking information in this release include the strength of the commercial office real estate markets in New York, competitive market conditions, unanticipated administrative costs, timing of leasing income, general and local economic conditions, interest rates, capital market conditions, tenant bankruptcies and defaults, the availability and cost of comprehensive insurance, including coverage for terrorist acts, and other factors, many of which are beyond the Company's control. We undertake no obligation to publicly update or revise any of the forward-looking information. For further information, please refer to the Company's filings with the Securities and Exchange Commission.