XML 53 R26.htm IDEA: XBRL DOCUMENT v3.24.0.1
Stockholders' Equity
 12 Months Ended
Dec. 31, 2023
Equity [Abstract]  
Stockholders' Equity Stockholders’ Equity
Our authorized capital stock consists of 450,000,000 shares of common stock, $0.01 par value per share and 50,000,000 shares of preferred stock, $0.01 par value per share. As of December 31, 2023, 141,358,605 shares of common stock were issued and outstanding, and 6,770,393 shares of 7.25% Series B-1 Preferred Stock were issued and outstanding. The Series B-1 Preferred Stock, with a par value $0.01 per share, have a liquidation preference of $25.00 per share.
Dividends. The following table details our dividend activity:
Year ended December 31,
Dividends declared per share of:2023
2022(1)
2021
Common Stock$1.40$1.40$1.40
Series B Preferred StockN/AN/A$1.00
Series B-1 Preferred Stock$1.81$1.81$0.90
 ———————
(1) As our aggregate 2022 distributions did not exceed our earnings and profits, $0.1185 of the January 2023 distribution declared in the fourth quarter of 2022, and payable to common stockholders of record as of December 31, 2022, was treated as a 2022 distribution for U.S. federal income tax purposes.
The federal income tax classification of our common stock dividends were 84% taxable as ordinary and 16% return of capital, 100% taxable as ordinary, and 100% taxable as ordinary for the taxable years ended December 31, 2023, 2022 and 2021, respectively.
The federal income tax classification of our Series B-1 Preferred stock dividends were 100% taxable as ordinary for each of the years ended December 31, 2023, 2022 and 2021.
Common Stock Repurchases. There was no common stock repurchase activity during the years ended December 31, 2023, 2022 and 2021. As of December 31, 2023, there was $172.2 million remaining authorized under our stock repurchase program.