SL Green Realty (SLG) will raise its quarterly dividend by 4.8 percent to $0.8125 per share in the first quarter of 2018. The new dividend yield for SLG is 3.1%.

The dividend is payable on January 16, 2018 to shareholders of record at the close of business on January 2, 2018.

Matt DiLiberto, SL Green’s Chief Financial Officer, said, “SL Green has continued to strategically capitalize on its assets to provide investors with an increase to our common dividend for the seventh consecutive year. This increase provides an immediate benefit to our shareholders, while allowing us to remain positioned for future growth with ample liquidity for capital projects and select investment opportunities.”

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.