SL Green Realty (SLG) will raise its quarterly dividend by 7.6 percent to $0.775 per share. The dividend is payable on January 17, 2017 to shareholders of record at the close of business on January 3, 2017.

Matt DiLiberto, SL Green’s Chief Financial Officer, said, “The earnings power of the SL Green platform provides us with the ability to meaningfully increase our common dividend again in 2017. This increase will immediately benefit our shareholders, while allowing us to retain ample liquidity to fund the Company’s ongoing capital projects and take advantage of compelling investment opportunities.”

Based on the current stock price of $108.20 the annual $3.10 per share dividend results in an annualized dividend yield of 2.9%.

SL Green Realty Corp., New York City's largest office landlord, is a fully integrated real estate investment trust, or REIT, that is focused primarily on acquiring, managing and maximizing value of Manhattan commercial properties. In addition to its Manhattan buildings SL Green holds ownership interests in suburban in Brooklyn, Long Island, Westchester County, Connecticut and New Jersey.