XML 31 R18.htm IDEA: XBRL DOCUMENT v3.22.0.1
Dividends Declared and Paid
12 Months Ended
Dec. 31, 2021
Equity [Abstract]  
Dividends Declared and Paid Dividends Declared and Paid
Common Dividends
The Company suspended common share dividends beginning after the payment of the March 27, 2020 dividend due to a decline in operating performance caused by the COVID-19 pandemic. During the year ended December 31, 2020, the Company declared total common share dividends of $0.22 per share and distributions on LTIP units of $0.22 per unit. There were no common share dividends declared during the year ended December 31, 2021. The dividends and distributions and their tax characterization were as follows:
Record
Date
Payment
Date
Common
share
distribution
amount
LTIP
unit
distribution
amount
Taxable Ordinary IncomeReturn of CapitalSection 199A Dividends
January1/31/20202/28/2020$0.11 $0.11 $— $0.1100 $— 
February2/28/20203/27/20200.11 0.11 — 0.1100 — 
Total 2020$0.22 $0.22 $ $0.2200 $ 

Preferred Dividends
During the year ended December 31, 2021, the Company declared total dividends of $0.89713 per share of 6.625% Series A Cumulative Redeemable Preferred Shares. The preferred dividends and their tax characterization were as follows:
Record
Date
Payment
Date
Dividend Per Preferred ShareTaxable Ordinary IncomeReturn of CapitalSection 199A Dividends
September9/30/202110/15/2021$0.48307 $0.48307 $— $0.48307 
December12/31/20211/18/2022$0.41406 $0.41406 $— $0.41406 
Total 2021$0.89713 $0.89713 $ $0.89713 

For the year ended December 31, 2021, 100.0% of the distributions paid to stockholders were considered ordinary income. For the year ended December 31, 2020, 100.0% of the distributions paid to stockholders were considered return of capital.