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SL Green boosts dividend, increases size of share buyback program

The board of directors of SL Green Realty Corp. increased the company's share buyback program by $500 million to $1.5 billion and raised the company's quarterly common stock and operating partnership unit payout by 4.8%.

The new dividend equates to an annual distribution of $3.25. In conjunction, the board declared a fourth-quarter dividend of 81.25 cents per share, payable Jan. 16, 2018, to shareholders of record Jan. 2, 2018.

Since announcing the stock repurchase program in August 2016, the company has repurchased 5,673,227 shares at an average per-share price of $101.71.