Dividends Declared and Paid

The Company declared regular common share dividends of $1.30 per share and distributions on LTIP units of $1.30 per unit for the year ended December 31, 2016. The dividends and distributions and their tax characterization were as follows:



	Record Date	Payment Date	Common share distribution amount		LTIP unit distribution amount		Ordinary Income		Return of Capital
Special	1/15/2016	1/29/2016	$	0.08	$	0.08	$	0.072	$	0.008
January	1/29/2016	2/26/2016	0.10		0.10		0.090		0.010
February	2/29/2016	3/25/2016	0.10		0.10		0.090		0.010
March	3/31/2016	4/29/2016	0.11		0.11		0.099		0.011
1st Quarter 2016			$	0.39	$	0.39	$	0.351	$	0.039

April	4/29/2016	5/27/2016	$	0.11	$	0.11	$	0.099	$	0.011
May	5/31/2016	6/24/2016	0.11		0.11		0.099		0.011
June	6/30/2016	7/29/2016	0.11		$	0.11	0.099		0.011
2nd Quarter 2016			$	0.33	$	0.33	$	0.297	$	0.033

July	7/29/2016	8/26/2016	$	0.11	$	0.11	$	0.099	$	0.011
August	8/31/2016	9/30/2016	0.11		0.11		0.099		0.011
September	9/30/2016	10/28/2016	$	0.11	0.11		$	0.099	$	0.011
3rd Quarter 2016			$	0.33	$	0.33	$	0.297	$	0.033

October	10/31/2016	11/25/2016	$	0.11	$	0.11	$	0.099	$	0.011
November	11/30/2016	12/30/2016	0.11		0.11		0.099		0.011
December	12/30/2016	1/27/2017	$	0.11	$	0.11	$	0.099	$	0.011
4th Quarter 2016			$	0.33	$	0.33	$	0.297	$	0.033

Total 2016			$	1.38	$	1.38	$	1.242	$	0.138



	Record Date	Payment Date	Common share distribution amount		LTIP unit distribution amount		Ordinary Income		Capital Gain
January	1/30/2015	2/27/2015	$	0.10	$	0.10	$	0.094	$	0.006
February	2/27/2015	3/27/2015	0.10		0.10		0.094		0.006
March	3/31/2015	4/24/2015	0.10		0.10		0.094		0.006
1st Quarter 2015			$	0.30	$	0.30	$	0.282	$	0.018

April	4/30/2015	5/29/2015	$	0.10	$	0.10	$	0.094	$	0.006
May	5/29/2015	6/26/2015	0.10		0.10		0.094		0.006
June	6/30/2015	7/31/2015	0.10		$	0.10	0.094		0.006
2nd Quarter 2015			$	0.30	$	0.30	$	0.282	$	0.018

July	7/31/2015	8/28/2015	$	0.10	$	0.10	$	0.094	$	0.006
August	8/31/2015	9/25/2015	0.10		0.10		0.094		0.006
September	9/30/2015	10/30/2015	$	0.10	0.10		$	0.094	$	0.006
3rd Quarter 2015			$	0.30	$	0.30	$	0.282	$	0.018

October	10/30/2015	11/27/2015	$	0.10	$	0.10	$	0.094	$	0.006
November	11/30/2015	12/28/2015	0.10		0.10		0.094		0.006
December	12/31/2015	1/29/2016	$	0.10	$	0.10	$	0.094	$	0.006
4th Quarter 2015			$	0.30	$	0.30	$	0.282	$	0.018

Total 2015			$	1.20	$	1.20	$	1.128	$	0.072

For the year ended December 31, 2016, approximately 90.0% of the distributions paid to stockholders were considered ordinary income and approximately 10.0% were considered returns of capital. For the year ended December 31, 2015, approximately 94.0% of the distributions paid to stockholders were considered ordinary income and approximately 6.0% were considered a capital gain for federal income tax purposes. A special dividend payment of $0.08 per share was authorized by the Company's Board of Trustees and declared by the Company on December 31, 2015. This special dividend was paid on January 29, 2016 to shareholders of record on January 15, 2016 and is taxable to shareholders in 2016.