12. Distributions Paid and Payable

A. Common Stock

We pay monthly distributions to our common stockholders. The following is a summary of monthly distributions paid per common share 2015 and 2014:

Month	2015		2014		2013

January	$	0.1834167	$	0.1821667	$	0.1517500
February	0.1890000		0.1821667		0.1809167
March	0.1890000		0.1821667		0.1809167
April	0.1895000		0.1824792		0.1812292
May	0.1895000		0.1824792		0.1812292
June	0.1895000		0.1824792		0.1812292
July	0.1900000		0.1827917		0.1815417
August	0.1900000		0.1827917		0.1815417
September	0.1900000		0.1827917		0.1815417
October	0.1905000		0.1831042		0.1818542
November	0.1905000		0.1831042		0.1818542
December	0.1905000		0.1831042		0.1818542



Total	$	2.2714167	$	2.1916254	$	2.1474587

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

	2015		2014		2013
Ordinary income	$	1.7307023	$	1.6483522	$	1.3153791
Nontaxable distributions	0.5407144		0.5432732		0.8320796

Totals	$	2.2714167	$	2.1916254	$	2.1474587

At December 31, 2015, a distribution of $0.191 per common share was payable and was paid in January 2016. At December 31, 2014, a distribution of $0.1834167 per common share was payable and was paid in January 2015.

B. Class E Preferred Stock

Prior to the redemption of the Class E preferred stock in October 2014, dividends of $0.140625 per share were paid monthly in arrears on the Class E preferred stock. We paid distributions to holders of our Class E preferred stock totaling $12.7 million in 2014 and $14.9 million in 2013. For 2014, dividends paid per share in the amount of $1.4484375 were characterized as ordinary income for federal income tax purposes, while in 2013, dividends paid per share in the amount of $1.6875 were characterized as ordinary income for federal income tax purposes.

C. Class F Preferred Stock

Dividends of $0.138021 per share are paid monthly in arrears on the Class F preferred stock. We declared dividends to holders of our Class F preferred stock totaling $27.1 million in 2015, 2014 and 2013. For 2015, 2014 and 2013, dividends paid per share of $1.656252 were characterized as ordinary income for federal income tax purposes. At December 31, 2015, a monthly dividend of $0.138021 per share was payable and was paid in January 2016. We are current in our obligations to pay dividends on our Class F preferred stock.