The Company had 140,633 OP Units outstanding at December 31, 2019 and 2018. These OP Units, issued to different partnerships, are exchangeable at the election of the OP Unit holder and, under certain circumstances at the option of the Company, exchangeable into an equivalent number of the Company’s common shares or for the equivalent amount of cash. Most of these OP Units are subject to registration rights agreements covering shares equivalent to the number of OP Units held by the holder if the Company elects to settle in its common shares. The OP Units are classified on the Company’s consolidated balance sheets as Non-Controlling Interests.

In 2019, the Company issued 13.225 million common shares resulting in net proceeds of $194.6 million. The Company’s common shares have a $0.10 per share par value. Common share dividends declared were as follows:

	For the Year Ended December 31,
	2019		2018		2017
Common share dividends declared per share	$	0.80	$	1.16	$	1.52

In 2018, the Company’s Board of Directors authorized a $100 million common share repurchase program. In 2019 and 2018, the Company repurchased 1.2 million shares and 3.1 million shares at an aggregate cost of $14.1 million and $36.3 million, respectively. These shares were recorded as Treasury Shares on the Company’s consolidated balance sheets.

In 2019, the Company redeemed all $200.0 million aggregate liquidation preference of its 6.50% Class J Cumulative Redeemable Preferred Shares (the “Class J Preferred Shares”) at a redemption price of $500 per Class J Preferred Share (or $25.00 per depositary share) plus accrued and unpaid dividends of $3.7917 per Class J Preferred Share (or $0.1896 per depositary share). The Company recorded a non-cash charge of approximately $7.2 million to net income attributable to common shareholders, which represents the difference between the redemption price and the carrying amount immediately prior to redemption, which was recorded to additional paid in capital upon original issuance.

The depositary shares, representing the Class A Cumulative Redeemable Preferred Shares (“Class A Shares”) and the Class K Cumulative Redeemable Preferred Shares (“Class K Shares”), represent 1/20 of a Class A Share and Class K Share, respectively, and have a liquidation value of $500 per share. The Class K depositary shares are redeemable by the Company. The Class A depositary shares are not redeemable by the Company prior to June 5, 2022, except in certain circumstances relating to the preservation of the Company’s status as a REIT.

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750,000 of each: Class A, Class B, Class C, Class D, Class E, Class F, Class G, Class H, Class I, Class J and Class K Cumulative Redeemable Preferred Shares, without par value