Distributions Paid and Payable

12 Months Ended

Dec. 31, 2019

A. Common Stock

We pay monthly distributions to our common stockholders. The following is a summary of monthly distributions paid per common share for 2019, 2018 and 2017:



Month	2019		2018		2017
January	$	0.2210	$	0.2125	$	0.2025
February	0.2255		0.2190		0.2105
March	0.2255		0.2190		0.2105
April	0.2260		0.2195		0.2110
May	0.2260		0.2195		0.2110
June	0.2260		0.2195		0.2110
July	0.2265		0.2200		0.2115
August	0.2265		0.2200		0.2115
September	0.2265		0.2200		0.2115
October	0.2270		0.2205		0.2120
November	0.2270		0.2205		0.2120
December	0.2270		0.2205		0.2120
Total	$	2.7105	$	2.6305	$	2.5270

The following presents the federal income tax characterization of distributions paid or deemed to be paid per common share for the years:



	2019		2018		2017
Ordinary income	$	2.1206964	$	2.0269173	$	1.9402085
Nontaxable distributions	0.5898036		0.6035827		0.5478464
Total capital gain distribution	—		—		0.0389451
Totals	$	2.7105000	$	2.6305000	$	2.5270000

At December 31, 2019, a distribution of $0.2275 per common share was payable and was paid in January 2020. At December 31, 2018, a distribution of $0.2210 per common share was payable and was paid in January 2019.

B. Class F Preferred Stock

In April 2017, we redeemed all 16,350,000 shares of our Class F preferred stock. During the first three months of 2017, we paid three monthly dividends to holders of our Class F preferred stock totaling $0.414063 per share, or $3.9 million. In April 2017, we paid a final monthly dividend of $0.101215 per share, or $1.7 million, which was recorded as interest expense. For 2017, dividends per share of $0.5073368 were characterized as ordinary income and dividends per share of $0.0079412 were characterized as total capital gain distribution for federal income tax purposes.