Dividends

12 Months Ended

Dec. 31, 2018

Dividends [Abstract]

Dividends

Dividends:

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):

	2018		2017		2016
Dividends	$	303,164	$	277,120	$	257,007
Per share	1.950		1.860		1.780

On January 15, 2019, NNN declared a dividend of $0.500 per share, payable February 15, 2019, to its common stockholders of record as of January 31, 2019.

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

	2018			2017		2016
Ordinary dividends	$	1.658604	(1)	$	1.559781	$	1.513705
Capital gain	0.015534			0.035041		—
Unrecaptured Section 1250 Gain	0.042818			0.012194		—
Nontaxable distributions	0.233044			0.252984		0.266295
	$	1.950000		$	1.860000	$	1.780000

⁽¹⁾  Eligible for the 20% qualified business income deduction under section 199A of the Code that was established by the Tax Cuts and Jobs Act signed into law on December 22, 2017 ("TCJA").

The following presents the characterization for tax purposes of Series D, E and F Preferred Stock dividends per share and dividends declared and paid to stockholders for the year ended December 31 (dollars in thousands, except per share data):

	Series F(1)							Series E(2)							Series D(3)
	2018			2017		2016		2018			2017		2016		2017		2016
Ordinary dividends	$	1.255820	(4)	$	1.261789	$	0.231111	$	1.376571	(4)	$	1.383115	$	1.425000	$	0.303652	$	1.656250
Capital gain	0.011761			0.028345		—		0.012892			0.031071		—		0.006821		—
Unrecaptured Section 1250 Gain	0.032419			0.009866		—		0.035537			0.010814		—		0.002374		—
Dividend paid per share	$	1.300000		$	1.300000	$	0.231111	$	1.425000		$	1.425000	$	1.425000	$	0.312847	$	1.656250
Dividends declared and paid	$	17,940		$	17,940	$	3,189	$	16,387		$	16,387	$	16,387	$	3,598	$	19,047

⁽¹⁾ The Series F Preferred Stock was issued in October 2016 and has no maturity date and will remain outstanding unless redeemed by NNN. The earliest redemption date for the Series F Preferred Stock is October 2021.

⁽²⁾ The Series E Preferred Stock has no maturity date and will remain outstanding unless redeemed by NNN. As of May 2018, the Series E Preferred Stock is redeemable by NNN.

⁽³⁾ The Series D Preferred Stock was redeemed in February 2017. The dividends paid in 2017 include accumulated and unpaid dividends through the redemption date.

⁽⁴⁾ Eligible for the 20% qualified business income deduction under section 199A of the Code that was established by the TCJA.