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Stockholders' Equity Matters
 12 Months Ended
Dec. 31, 2022
Equity [Abstract]  
Stockholders' Equity Matters STOCKHOLDERS’ EQUITY MATTERS
Our board of directors has adopted a dividend policy under which we have paid, and in the future intend to pay, quarterly cash dividends on our common stock. The amount and timing of future dividends will continue to be subject to the approval of our board of directors, in its sole discretion, and to applicable legal requirements.
In 2020, 2021 and 2022, our board of directors declared the following dividends:
DECLARATION DATEDIVIDEND
PER SHARE		RECORD DATETOTAL AMOUNTPAYMENT DATE
February 13, 2020$0.6185 March 16, 2020$178,047 April 6, 2020
May 5, 20200.6185 June 15, 2020178,212 July 2, 2020
August 5, 20200.6185 September 15, 2020178,224 October 2, 2020
November 4, 20200.6185 December 15, 2020178,290 January 6, 2021
February 24, 20210.6185 March 15, 2021178,569 April 6, 2021
May 6, 20210.6185 June 15, 2021179,026 July 6, 2021
August 5, 20210.6185 September 15, 2021179,080 October 6, 2021
November 4, 20210.6185 December 15, 2021179,132 January 6, 2022
February 24, 20220.6185 March 15, 2022179,661 April 6, 2022
April 28, 20220.6185 June 15, 2022179,781 July 6, 2022
August 4, 20220.6185 September 15, 2022179,790 October 4, 2022
November 3, 20220.6185 December 15, 2022179,866 January 5, 2023
On February 23, 2023, we declared a dividend to our stockholders of record as of March 15, 2023 of $0.6185 per share, payable on April 5, 2023.
During the years ended December 31, 2022, 2021 and 2020, we declared dividends in an aggregate and per share amount, based on the weighted average number of common shares outstanding during each respective year, as follows:
 YEAR ENDED DECEMBER 31,
 202220212020
Declared distributions$719,098 $715,807 $712,773 
Amount per share each distribution represents based on weighted average number of common shares outstanding2.47 2.47 2.47 
For federal income tax purposes, distributions to our stockholders are generally treated as nonqualified ordinary dividends (potentially eligible for the lower effective tax rates available for "qualified REIT dividends"), qualified ordinary dividends or return of capital. The United States Internal Revenue Service requires historical C corporation earnings and profits to be distributed prior to any REIT distributions, which may affect the character of each distribution to our stockholders, including whether and to what extent each distribution is characterized as a qualified or nonqualified ordinary dividend. In addition, certain of our distributions qualify as capital gain distributions. For the years ended December 31, 2022, 2021 and 2020, the dividends we paid on our common shares were classified as follows:
YEAR ENDED DECEMBER 31,
 202220212020
Nonqualified ordinary dividends90.4 %53.9 %43.0 %
Qualified ordinary dividends— %13.0 %0.0 %
Capital gains9.6 %21.8 %49.5 %
Return of capital— %11.3 %7.5 %
100.0 %100.0 %100.0 %
Dividends paid during the years ended December 31, 2022, 2021 and 2020 which were classified as qualified ordinary dividends for federal income tax purposes primarily related to the distribution of historical C corporation earnings and profits related to certain acquisitions completed during the years ended December 31, 2022, 2021 and 2020. In 2022, the percentage of our dividend that was classified as a capital gain was 9.6% and was primarily related to the sale of land and buildings in the United States and Canada. In 2021, the percentage of our dividend that was classified as a capital gain was 21.8% and primarily related to the sale of land and buildings in the United States and the United Kingdom. In 2020, the percentage of our dividend that was classified as a capital gain was 49.5% and primarily related to the sale of land and buildings in the United States.