Dividends and Distributions Payable

12 Months Ended

Dec. 31, 2021

Dividends and Distributions Payable

Dividends and Distributions Payable

Note 7 – Dividends and Distributions Payable

The Company declared dividends of $2.604, $2.405 and $2.280 per share during the years ended December 31, 2021, 2020, and 2019; the dividends have been reflected for federal income tax purposes as follows:

For the Year Ended December 31,	2021		2020		2019
Ordinary Income	$	2.398	$	1.928	$	1.933
Return of Capital		0.206		0.477		0.347
Total	$	2.604	$	2.405	$	2.280

On December 1, 2021, the Company declared a dividend of $0.227 per share for the month ended December 31, 2021. The holders of Operating Partnership Common Units are entitled to an equal distribution per Operating Partnership Unit held. The monthly common dividend for December 2021 has been reflected as a reduction of stockholders’ equity and the distribution has been reflected as a reduction of the limited partners’ non-controlling interest. This dividend was paid on January 14, 2022.

The Company declared dividends of $0.30695 per Depositary Share during the year ended December 31, 2021, covering the periods subsequent to the September 2021 preferred stock issuance date (see Note 6- Common and Preferred Stock).   These dividends were reflected entirely as ordinary income for federal income tax purposes.  

On December 13, 2021, the Company declared a dividend of $0.08854 per Depositary Share for the month ended December 31, 2021.  This monthly preferred dividend has been reflected as a reduction of stockholders’ equity and was paid on January 3, 2022.