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Dec. 6, 2019, 7:38 a.m. EST

SL Green Realty raises dividend, to yield well above peer group and S&P 500

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By Tomi Kilgore

SL Green Realty Corp. /zigman2/quotes/208985878/composite SLG -1.92% said Friday it will raise its quarterly dividend by 4.1%, to 88.5 cents a share from 85 cents a share. The real estate investment trust said the new dividend will be payable Jan. 15 to shareholders of record on Jan. 2. Based on Thursday's stock closing price of $85.77, the new annual dividend rate implies a dividend yield of 4.13%, compared with the yield for the SPDR Real Estate Select Sector ETF /zigman2/quotes/207325179/composite XLRE -1.41% of 2.96% and the implied yield for the S&P 500 /zigman2/quotes/210599714/realtime SPX +0.47% of 1.91%, according to FactSet. Shares of the self-proclaimed largest office landlord in New York City, which were still inactive in premarket trading, have rallied 8.5% year to date, while the REIT ETF has climbed 24.2% and the S&P 500 has advanced 24.4%.

/zigman2/quotes/208985878/composite
US : U.S.: NYSE
$ 93.93
-1.84 -1.92%
Volume: 720,772
Feb. 19, 2020 6:30p
P/E Ratio
31.70
Dividend Yield
3.77%
Market Cap
$7.59 billion
Rev. per Employee
$1.44M
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/zigman2/quotes/207325179/composite
US : U.S.: NYSE Arca
$ 41.25
-0.59 -1.41%
Volume: 2.61M
Feb. 19, 2020 6:30p
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/zigman2/quotes/210599714/realtime
US : S&P US
3,386.15
+15.86 +0.47%
Volume: 1.73B
Feb. 19, 2020 5:05p
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