Dividends:

The following presents the characterization for tax purposes of common stock dividends per share paid to stockholders for the years ended December 31:



	2015		2014		2013
Ordinary dividends	$	1.363294	$	1.306992	$	1.224568
Qualified dividends	0.019005		0.006212		0.056784
Capital gain	0.007806		0.008603		—
Unrecaptured Section 1250 Gain	0.011055		0.015362		0.000650
Nontaxable distributions	0.308840		0.312831		0.317998
	$	1.710000	$	1.650000	$	1.600000

The following table outlines the dividends declared and paid for NNN's common stock for the years ended December 31 (in thousands, except per share data):



	2015		2014		2013
Dividends	$	228,699	$	204,157	$	189,107
Per share	1.710		1.650		1.600

On January 15, 2016, NNN declared a dividend of $0.435 per share, payable February 16, 2016 to its common stockholders of record as of January 29, 2016.

The following presents the characterization for tax purposes of Series D and E Preferred Stock dividends per share paid to stockholders for the year ended December 31:



	Series E						Series D
	2015		2014		2013		2015		2014		2013
Ordinary dividends	$	1.385670	$	1.393700	$	0.741150	$	1.610538	$	1.619870	$	1.590323
Qualified dividends	0.020141		0.005738		0.030332		0.023409		0.006670		0.065084
Capital gain	0.007937		0.009177		—		0.009225		0.010666		—
Unrecaptured Section 1250 Gain	0.011252		0.016385		0.000393		0.013078		0.019044		0.000843
	$	1.425000	$	1.425000	$	0.771875	$	1.656250	$	1.656250	$	1.656250

The following table outlines the dividends declared and paid for NNN's preferred stock for the years ended December 31 (in thousands, except per share data):



		2015		2014		2013
Series D Preferred Stock⁽¹⁾:
	Dividends	$	19,047	$	19,047	$	19,047
	Per share	1.656250		1.656250		1.656250

Series E Preferred Stock⁽²⁾:
	Dividends	16,387		16,387		8,876
	Per share	1.425000		1.425000		0.771875

⁽¹⁾The Series D Preferred Stock has no maturity date and will remain outstanding unless redeemed.

⁽²⁾The Series E Preferred Stock dividends paid during the quarter ended September 30, 2013 include accumulated and unpaid dividends from the issuance date through the declaration date. The Series E Preferred Stock has no maturity date and will remain outstanding unless redeemed.