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.
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SL Green Realty is a self-managed real estate investment trust. Co. is engaged in the acquisition, development, repositioning, ownership, management and operation of commercial and residential real estate properties, mainly office properties, located in the New York metropolitan area. Substantially all of Co.'s assets are held by, and all of its operations are conducted through, SL Green Operating Partnership, L.P. (the Operating Partnership).All of the management and leasing operations with respect to Co.'s properties are conducted through SL Green Management LLC (Management LLC). The Operating Partnership owns 100% of Management LLC. Open the SLG Information Page » |
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