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Distributions
12 Months Ended
Dec. 31, 2014
Distributions  
Distributions

12. Distributions

We must distribute at least 90% of our taxable income in order to continue to qualify as a REIT. This distribution requirement can be satisfied by current year distributions or, to a certain extent, by distributions in the following year.

For federal tax purposes, distributions to stockholders are treated as ordinary income, capital gains, return of capital or a combination thereof. Distributions for 2014, 2013 and 2012 were cash distributions. The federal income tax classification of the per share common stock distributions are as follows (unaudited):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Year Ended December 31,

 

 

 

2014

 

2013

 

2012

 

Ordinary taxable distribution

    

$

1.474 

    

$

1.534 

    

$

1.539 

 

Return of capital

 

 

0.196 

 

 

0.313 

 

 

0.242 

 

Unrecaptured Section 1250 gain

 

 

0.370 

 

 

0.058 

 

 

0.004 

 

Long term capital gain

 

 

 —

 

 

— 

 

 

0.005 

 

Total

 

$

2.040 

 

$

1.905 

 

$

1.790