Dividend Reinvestment and Stock Purchase Plan

9 Months Ended

Sep. 30, 2013

Dividend Reinvestment and Stock Purchase Plan

Dividend Reinvestment and Stock Purchase Plan

21. Dividend Reinvestment and Stock Purchase Plan

In March 2011, we established a Dividend Reinvestment and Stock Purchase Plan, or the DSPP, to provide our common stockholders, as well as new investors, with a convenient and economical method of purchasing our common stock and reinvesting their distributions. The DSPP also allows our current stockholders to buy additional shares of common stock by reinvesting all or a portion of their distributions.

The DSPP authorizes up to 6,000,000 common shares to be issued.  During the first nine months of 2013, we issued 89,975 shares and raised approximately $3.9 million under the DSPP.  During the first nine months of 2012, we issued 55,598 shares and raised approximately $2.2 million under the DSPP.  From the inception of the DSPP through September 30, 2013, we have issued 205,178 shares and raised approximately $8.1 million.

In March 2013, we updated our DSPP so that we are now paying for a majority of the plan-related fees, which were previously paid by the investors.