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INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2023

INCOME TAXES

Schedule of allocation of distributions made to stockholders

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The approximate allocation of the distributions made to stockholders is as follows for the years indicated:

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​	​	​	​	​	​	​	​	​	​
​	​	Year Ended December 31,							​
​		2023			2022			2021
Ordinary income (a)	​	53	%	​	54	%	​	43	%
Capital gains	​	47	​	​	46	​	​	57	​
​	​	100	%	​	100	%	​	100	%

(a) In 2023, 2022 and 2021, the ordinary income portion of the distributions are considered qualified REIT dividends and will be taxed at a rate reduced by up to 20% pursuant to Internal Revenue Code Section 199A.

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Schedule of reconciliation of dividends declared with the dividends paid deduction

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The following table reconciles dividends declared with the dividends paid deduction for the years indicated (amounts in thousands):

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​	​	​	​	​	​	​	​	​	​
​		2023			2022			2021
​	​	Estimate		​	Actual		​	Actual
Dividends declared	​	$	38,116	​	$	37,915	​	$	37,478
Dividend reinvestment plan (a)	​		157	​		102	​		35
​	​		38,273	​		38,017	​		37,513
Less: Spillover dividends designated to previous year	​		(4,240)	​		—	​		—
Less: Spillover dividends designated to following year	​	​	—	​	​	—	​	​	(2,085)
Plus: Dividends designated from prior year	​	​	—	​	​	2,085	​	​	9,261
Plus: Dividends designated from following year	​		737	​		4,240	​		—
Dividends paid deduction	​	$	34,770	​	$	44,342	​	$	44,689

(a) Reflects the discount on common stock purchased through the dividend reinvestment plan of 3%.

X

- Definition

Tabular disclosure of reconciliation of cash dividends paid with the dividends paid deduction.

+ References

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- Definition

Tabular disclosure of all or some of the information related to dividends declared, but not paid, as of the financial reporting date.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482913/230-10-50-3

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