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SL Green Realty Corp | 6.50% Series I Cumulative Redeemable Preferred Stock (SLG.PRI)

Prospectus excerpt:   SL Green Realty Corp. is offering 8,000,000 shares of 6.50% Series I Cumulative Redeemable Preferred Stock (the "Series I Preferred Stock").

The dividend rate per share of Series I Preferred Stock is 6.50% per annum of the $25.00 liquidation preference, which is equivalent to $1.625 per annum per share and is payable when, as and if declared by our board of directors, quarterly in cash, in arrears, on each January 15, April 15, July 15 and October 15 (or, if not a business day, the next succeeding business day) commencing on October 15, 2012. Because the first dividend payment date is October 15, 2012, the dividend payable on a share of Series I Preferred Stock on that date will be $0.2934, representing the pro rated amount of the regular quarterly dividend per share.

The Series I Preferred Stock is not redeemable until August 10, 2017, except in instances relating to preservation of our status as a real estate investment trust, or REIT. On and after August 10, 2017, we may redeem the Series I Preferred Stock, at any time, in whole or from time to time in part, for cash at $25.00 per share, plus accrued and unpaid dividends to, but not including, the redemption date.

The Series I Preferred Stock has no stated maturity, is not subject to any sinking fund, is not convertible into any other security and will remain outstanding indefinitely unless repurchased or redeemed at our option.

Holders of shares of Series I Preferred Stock will generally have no voting rights, except for limited voting rights if we fail to pay dividends for six or more quarterly periods (whether or not consecutive) and in certain other circumstances.

Full Prospectus PDF », SLG Page »

Alternate symbology:SLG-I, SLG-PI, SLGprI
Call Date:8/10/2017
Shares Offered:8,000,000
Liquidation Preference:$25
Recent Market Price:$25.78
Premium to Liquidation Preference:
(More Preferreds Trading at a Premium »)
$0.78 (3.12%)
Annualized Dividend:1.625
Recent Ex-Date:6/28/2017
Current Yield:6.30%
Original Coupon:6.50%
Pay Period:Quarterly
Pay Dates:15-Jan, 15-Apr, 15-Jul, 15-Oct
SL Green Realty is a self-managed real estate investment trust, with in-house capabilities in property management, acquisitions and dispositions, financing, development and redevelopment, construction and leasing. As of Dec 31 2016, Co. owned interests in properties in the New York Metropolitan area, primarily in midtown Manhattan. Co.'s investments in the New York Metropolitan area also include investments in Brooklyn, Long Island, Westchester County, Connecticut and New Jersey. As of Dec 31 2016, Co. had 65 consolidated commercial properties and 23 unconsolidated commercial properties; and three consolidated residential properties and 18 unconsolidated residential properties.

Preferreds: SLG.PRI, SLG.PRC

Open the SLG Information Page »
Name:  SL Green Realty Corp
Sector:  REITs
Number of ETFs Holding SLG:  77 (see which ones)
Total Market Value Held by ETFs:  $2,187,949,812
Total Market Capitalization:  $10,719,000,000
% of Market Cap. Held by ETFs:  20.41%

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