Tax Treatment of Distributions
The following table reconciles the dividends declared per share of common stock to the dividends paid per share of common stock during the years ended December 31, 2015, 2014 and 2013 as follows:
| | | | | | | | | | | Year Ended December 31, | Dividends | 2015 | | 2014 | | 2013 | Dividends declared per share of common stock | 1.400 |
| | 1.400 |
| | 1.400 |
| Less: Dividends declared in the current year and paid in the following year | (0.350 | ) | | (0.350 | ) | | (0.350 | ) | Add: Dividends declared in the prior year and paid in the current year | 0.350 |
| | 0.350 |
| | 0.350 |
| Dividends paid per share of common stock | 1.400 |
| | 1.400 |
| | 1.400 |
|
The unaudited income tax treatment for the dividends to common stockholders reportable for the years ended December 31, 2015, 2014 and 2013 as identified in the table above was as follows:
| | | | | | | | | | | | | | | | | | | | | | | Year Ended December 31, | Shares of Common Stock | 2015 | | 2014 | | 2013 | Ordinary income | $ | 0.992 |
| | 70.86 | % | | $ | 0.998 |
| | 71.29 | % | | $ | 0.756 |
| | 54.00 | % | Qualified dividend | 0.002 |
| | 0.13 |
| | 0.002 |
| | 0.14 |
| | 0.003 |
| | 0.21 |
| Return of capital | — |
| | — |
| | 0.398 |
| | 28.43 |
| | 0.620 |
| | 44.29 |
| Capital gains (1) | 0.051 |
| | 3.65 |
| | 0.002 |
| | 0.14 |
| | — |
| | — |
| Unrecaptured section 1250 gains | 0.355 |
| | 25.36 |
| | — |
| | — |
| | 0.021 |
| | 1.5 |
| | $ | 1.400 |
| | 100.00 | % | | $ | 1.400 |
| | 100.00 | % | | $ | 1.400 |
| | 100.00 | % |
| | (1) | Capital gains are comprised entirely of 20% rate gains. |
The 6.875% Series G Cumulative Redeemable Preferred Stock was issued in March 2012. The unaudited income tax treatment for the dividends to Series G preferred stockholders reportable for the years ended December 31, 2015, 2014, and 2013 was as follows:
| | | | | | | | | | | | | | | | | | | | | | | Year Ended December 31, | | Preferred Shares | 2015 | | 2014 | | 2013 | Ordinary income | $ | 1.218 |
| | 70.86 | % | | $ | 1.711 |
| | 99.54 | % | | $ | 1.668 |
| | 97.03 | % | Qualified dividend | 0.002 |
| | 0.13 |
| | 0.003 |
| | 0.17 |
| | 0.006 |
| | 0.35 |
| Capital gains (1) | 0.063 |
| | 3.65 |
| | 0.005 |
| | 0.29 |
| | — |
| | — |
| Unrecaptured section 1250 gains | 0.436 |
| | 25.36 |
| | — |
| | — |
| | 0.045 |
| | 2.62 |
| | $ | 1.719 |
| | 100.00 | % | | $ | 1.719 |
| | 100.00 | % | | $ | 1.719 |
| | 100.00 | % |
__________________ | | (1) | Capital gains are comprised entirely of 20% rate gains. |
The 6.375% Series H Cumulative Redeemable Preferred Stock was issued in August 2012. The unaudited income tax treatment for the dividends to Series H preferred stockholders reportable for the years ended December 31, 2015, 2014, and 2013 was as follows:
| | | | | | | | | | | | | | | | | | | | | | | Year Ended December 31, | Preferred Shares | 2015 | | 2014 | | 2013 | Ordinary income | $ | 1.129 |
| | 70.86 | % | | $ | 1.587 |
| | 99.56 | % | | $ | 1.546 |
| | 96.99 | % | Qualified dividend | 0.002 |
| | 0.13 |
| | 0.003 |
| | 0.19 |
| | 0.006 |
| | 0.38 |
| Capital gains (1) | 0.059 |
| | 3.65 |
| | 0.004 |
| | 0.25 |
| | — |
| | — |
| Unrecaptured section 1250 gains | 0.404 |
| | 25.36 |
| | — |
| | — |
| | 0.042 |
| | 2.63 |
| | $ | 1.594 |
| | 100.00 | % | | $ | 1.594 |
| | 100.00 | % | | $ | 1.594 |
| | 100.00 | % |
__________________ | | (1) | Capital gains are comprised entirely of 20% rate gains. |
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