SL Green Realty (SLG) will raise its quarterly dividend by 4.1 percent to $0.885 per share in the first quarter of 2020. This will mark the 9th consecutive year of dividend increases by New York City’s largest office landlord.

The fourth quarter dividend is payable on January 15, 2020 to shareholders of record at the close of business on January 2, 2020. A new annual rate of $3.54 per share yields 4.1% a a stock price of $86.90.

“We are rewarding shareholders with another dividend increase as our Company continues to deliver,” said Matt DiLiberto, Chief Financial Officer at SL Green. "Our dividend yield of roughly 4.2 percent is generated by a portfolio of high-quality assets located in New York City’s best submarkets and we will continue executing on our strategy in 2020, enhancing the quality of our portfolio while maintaining the liquidity needed to advance our development and redevelopment projects as well as our share buyback program."

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.