SL Green Sets $2.47 Dividend, 6.6% Yield and Plans $9.5B Dispositions, Refinancings
SL Green’s board set a 2026 annual ordinary dividend of $2.47 per share, payable quarterly starting April 15, yielding 6.6% based on $37.48 share price. The REIT plans $2.5 billion of asset dispositions and $7 billion in refinancings while targeting 95% same-store occupancy by end-2026.
1. Dividend Announcement and Yield
SL Green Realty’s board approved a $2.47 per share annual dividend on common stock for 2026, equating to $0.6175 quarterly payments starting April 15 to holders of record as of March 31. At a share price of $37.48, this represents a 6.6% yield, enabling retention of incremental liquidity.
2. Liquidity and Reinvestment Strategy
The company plans $2.5 billion of asset dispositions and $7 billion of refinancings through 2026, intended to fund accretive reinvestment opportunities such as discounted debt extinguishments, share repurchases, and ongoing development projects while preserving balance sheet flexibility.
3. Leasing Performance and Occupancy Outlook
SL Green has leased 8.4 million square feet of Manhattan office space over the past three years, driving same-store leased occupancy projected to reach nearly 95% by the end of 2026. The REIT expects leasing-related capital expenditures to substantially moderate beginning in the second half of 2027.
4. Preferred Stock Dividend
The board declared a quarterly dividend of $0.40625 per share on Series I Preferred Stock for the January 15 to April 14 period, equivalent to an annualized dividend of $1.625, payable April 15 to holders of record as of March 31.