Distributions Paid and Payable

12 Months Ended

Dec. 31, 2022

We pay monthly distributions to our common stockholders. The following is a summary of monthly distributions paid per common share for the years ended December 31, 2022, 2021, and 2020:


Month	2022		2021		2020
January	$	0.2465	$	0.2345	$	0.2275
February	0.2465		0.2345		0.2325
March	0.2465		0.2345		0.2325
April	0.2470		0.2350		0.2330
May	0.2470		0.2350		0.2330
June	0.2470		0.2350		0.2330
July	0.2475		0.2355		0.2335
August	0.2475		0.2355		0.2335
September	0.2475		0.2355		0.2335
October	0.2480		0.2360		0.2340
November	0.2480		0.2360		0.2340
December	0.2480		0.2460		0.2340
Total	$	2.9670	$	2.8330	$	2.7940

At December 31, 2022, a distribution of $0.2485 per common share was payable and was paid in January 2023. At December 31, 2021, a distribution of $0.2465 per common share was payable and was paid in January 2022.

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


	2022		2021		2020
Ordinary income	$	2.7867654	$	1.5146899	$	2.2798764
Nontaxable distributions	—		3.2925615		0.4902835
Total capital gain distribution (1)	0.1802346		0.0854609		0.0238401
Totals (2)	$	2.9670000	$	4.8927123	$	2.7940000

(1) Unrecaptured Section 1250 Gain of $0.0784152, or 2.643% of the total common dividends paid in the year ended December 31, 2022, and Section 897 Gain of $0.1802346, or 6.075% of the total common dividends paid in the year ended December 31, 2022, both represent additional characterization of, and are part of, total capital gain distribution.

(2) The amount distributed in 2021 includes the $2.060 tax distribution of Orion shares, that occurred in conjunction with the Orion Divestiture on November 12, 2021, after our merger with VEREIT on November 1, 2021. The fair market value of these shares for tax distribution was determined to be $20.6272 per share, which was calculated using the five-day volume weighted average share price after issuance.