Dividends (Tables)

12 Months Ended

Dec. 31, 2019

Dividends [Abstract]

Schedule of Dividends Declared and Paid

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):

	2019		2018		2017
Dividends	$	333,692	$	303,164	$	277,120
Per share	2.030		1.950		1.860

Common Stock, Dividends Paid

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

 

	2019			2018			2017
Ordinary dividends	$	1.762899	(1)	$	1.658604	(1)	$	1.559781
Capital gain	—			0.015534			0.035041
Unrecaptured Section 1250 Gain	—			0.042818			0.012194
Nontaxable distributions	0.267101			0.233044			0.252984
	$	2.030000		$	1.950000		$	1.860000

⁽¹⁾ 

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

Preferred Stock, Dividends Paid

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)
	2019			2018			2017		2019			2018			2017		2017
Dividends declared and paid	$	17,940		$	17,940		$	17,940	$	13,201		$	16,387		$	16,387	$	3,598
Ordinary dividends	$	1.300000	(4)	$	1.255820	(4)	$	1.261789	$	1.147917	(4)	$	1.376571	(4)	$	1.383115	$	0.303652
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		$	1.300000	$	1.147917		$	1.425000		$	1.425000	$	0.312847

⁽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 was redeemed in October 2019. The dividends paid in 2019 include accumulated and unpaid dividends through, but not including, the redemption date.

⁽³⁾ The Series D Preferred Stock was redeemed in February 2017. The dividends paid in 2017 include accumulated and unpaid dividends through, but not including, the redemption date.

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