11. 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 for 2017, 2016 and 2015:

Month	2017		2016		2015
January	$	0.2025000	$	0.1910000	$	0.1834167
February	0.2105000		0.1985000		0.1890000
March	0.2105000		0.1985000		0.1890000
April	0.2110000		0.1990000		0.1895000
May	0.2110000		0.1990000		0.1895000
June	0.2110000		0.1990000		0.1895000
July	0.2115000		0.1995000		0.1900000
August	0.2115000		0.1995000		0.1900000
September	0.2115000		0.2015000		0.1900000
October	0.2120000		0.2020000		0.1905000
November	0.2120000		0.2020000		0.1905000
December	0.2120000		0.2020000		0.1905000
Total	$	2.5270000	$	2.3915000	$	2.2714167

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

	2017		2016		2015
Ordinary income	$	1.9402085	$	1.8771975	$	1.7307023
Nontaxable distributions	0.5478464		0.5143025		0.5407144
Total capital gain distribution	0.0389451		-		-
Totals	$	2.5270000	$	2.3915000	$	2.2714167

At December 31, 2017, a distribution of $0.2125 per common share was payable and was paid in January 2018. At December 31, 2016, a distribution of $0.2025 per common share was payable and was paid in January 2017.

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. During 2016 and 2015, we paid twelve monthly dividends to holders of our Class F preferred stock totaling $1.656252 per share, or $27.1 million, which were characterized as ordinary income for federal income tax purposes.