Stephen L. Green, chairman and CEO of the firm, described the increase as "a clear expression of our confidence in the future growth in cash flows from our real estate portfolio and continuing improvement in the financial performance of our company. The board has a very strong belief that shareholders should participate in the company's profitability growth, which was demonstrated by the increase."
The company also declared a dividend on Series A preferred stock for the quarter of $0.50 per share that amounts to an annualized distribution of $2.00 per share.
SL Green is a self-administered, self-managed real estate investment trust that specializes in class B Manhattan office properties.
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