Dividends

12 Months Ended

Dec. 31, 2020

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):

	2020		2019		2018
Dividends	$	356,409	$	333,692	$	303,164
Per share	2.070		2.030		1.950

On January 15, 2021, NNN declared a dividend of $0.520 per share, payable February 16, 2021, to its common stockholders of record as of January 29, 2021.

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

	2020		2019		2018
Ordinary dividends(1)	$	1.659755	$	1.762899	$	1.658604
Capital gain	—		—		0.015534
Unrecaptured Section 1250 Gain	—		—		0.042818
Nontaxable distributions	0.410245		0.267101		0.233044
	$	2.070000	$	2.030000	$	1.950000

(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").

The following presents the characterization for tax purposes of the 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)
	2020		2019		2018		2019		2018
Dividends declared and paid	$	17,940	$	17,940	$	17,940	$	13,201	$	16,387
Ordinary dividends(3)	$	1.300000	$	1.300000	$	1.255820	$	1.147917	$	1.376571
Capital gain	—		—		0.011761		—		0.012892
Unrecaptured Section 1250 Gain	—		—		0.032419		—		0.035537
Dividend paid per share	$	1.300000	$	1.300000	$	1.300000	$	1.147917	$	1.425000

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