vornado realty trusts board of directors has cut its quarterly dividend to 375 cents a share reflecting current economic challenges and the companys reduced forecast for 2023 taxable income the real estate investment trusts new dividend is a decrease from its prior dividend of 53 cents per share vornado said it has reduced its forecast for taxable income for the year primarily due to higher interest expense the new payout equal to 150 a year represents an annual yield of about 65 based on wednesdays closing price of 2307 the dividend will be payable on feb 10 to common shareholders of record on jan 30 the company said