Stockholders' Equity Matters (Tables)

12 Months Ended

Dec. 31, 2023

Equity [Abstract]

Schedule of Dividends Declared and Payments

In 2021, 2022 and 2023, our board of directors declared the following dividends:

DECLARATION DATE	DIVIDEND PER SHARE		RECORD DATE	TOTAL AMOUNT		PAYMENT DATE
February 24, 2021	$	0.6185	March 15, 2021	$	178,569	April 6, 2021
May 6, 2021	0.6185		June 15, 2021	179,026		July 6, 2021
August 5, 2021	0.6185		September 15, 2021	179,080		October 6, 2021
November 4, 2021	0.6185		December 15, 2021	179,132		January 6, 2022
February 24, 2022	0.6185		March 15, 2022	179,661		April 6, 2022
April 28, 2022	0.6185		June 15, 2022	179,781		July 6, 2022
August 4, 2022	0.6185		September 15, 2022	179,790		October 4, 2022
November 3, 2022	0.6185		December 15, 2022	179,866		January 5, 2023
February 23, 2023	0.6185		March 15, 2023	180,339		April 5, 2023
May 4, 2023	0.6185		June 15, 2023	180,493		July 6, 2023
August 3, 2023	0.6500		September 15, 2023	189,730		October 5, 2023
November 2, 2023	0.6500		December 15, 2023	189,886		January 4, 2024

During the years ended December 31, 2023, 2022 and 2021, we declared dividends in an aggregate and per share amount, based on the weighted average number of common shares outstanding during each respective year, as follows:

	YEAR ENDED DECEMBER 31,
	2023		2022		2021
Declared distributions	$	740,448	$	719,098	$	715,807
Amount per share each distribution represents based on weighted average number of common shares outstanding	2.54		2.47		2.47

Schedule of Classification of Dividends Paid

For the years ended December 31, 2023, 2022 and 2021, the dividends we paid on our common shares were classified as follows:

	YEAR ENDED DECEMBER 31,
	2023		2022		2021
Nonqualified ordinary dividends	98.2	%	90.4	%	53.9	%
Qualified ordinary dividends(1)	0.8	%	—	%	13.0	%
Capital gains(2)(3)	—	%	9.6	%	21.8	%
Return of capital	1.0	%	—	%	11.3	%
	100.0	%	100.0	%	100.0	%

(1)Dividends paid during the years ended December 31, 2023 and 2021 which were classified as qualified ordinary dividends for federal income tax purposes primarily related to the distribution of historical C corporation earnings and profits during the years ended December 31, 2023 and 2021. None of the dividends paid during the year ended December 31, 2022 were classified as qualified ordinary dividends for federal income tax purposes.

(2)During the year ended December 31, 2022, the percentage of our dividends that was classified as a capital gain was primarily related to the sale of land and buildings in the United States and Canada.

(3)During the year ended December 31, 2021, the percentage of our dividends that was classified as a capital gain was primarily related to the sale of land and buildings in the United States and the United Kingdom.