Dividends

12 Months Ended

Dec. 31, 2021

Note 9 – 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):


	2021		2020		2019
Dividends	$	367,291	$	356,409	$	333,692
Per share		2.1000		2.0700		2.0300

On January 14, 2022, NNN declared a dividend of $0.530 per share, payable February 15, 2022, to its common stockholders of record as of January 31, 2022.

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


	2021		2020		2019
Ordinary dividends(1)	$	1.615753	$	1.659755	$	1.762899
Nontaxable distributions		0.484247		0.410245		0.267101
	$	2.100000	$	2.070000	$	2.030000

(1)

Eligible for the 20% qualified business income deduction under section 199A of the Code.

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


	Series F(1)						Series E(2)
	2021		2020		2019		2019
Dividends	$	14,999	$	17,940	$	17,940	$	13,201
Per share(3)		1.086944		1.3000		1.3000		1.147917

(1)

The Series F Preferred Stock was redeemed in October 2021. The dividends paid in 2021 include accumulated and
unpaid dividends through, but not including, the redemption date.

(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)

100% of preferred stock dividends were characterized as ordinary dividends for tax purposes, eligible for the 20%
qualified business income deduction under section 199A of the Code.