Dividends Declared and Paid

12 Months Ended

Dec. 31, 2022

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, 2022, the Company reinstated common share dividends and declared total common share dividends of $0.07 per share and distributions on LTIP units of $0.07 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 Income		Return of Capital		Section 199A Dividends

















December	12/30/2022	1/17/2023	0.07		0.07		0.07		—		0.07



Total 2022			$	0.07	$	0.07	$	0.07	$	—	$	0.07

For the year ended December 31, 2022, 100.0% of the distributions paid to common shareholders were considered ordinary income.

Preferred Dividends

During the year ended December 31, 2022, the Company declared total dividends of $1.65624 per share of 6.625% Series A Cumulative Redeemable Preferred Shares. The preferred dividends and their tax characterization for the years ended December 31, 2022 and 2021 were as follows:


	Record Date	Payment Date	Dividend Per Preferred Share		Taxable Ordinary Income		Return of Capital		Section 199A Dividends
March	3/31/2022	4/18/2022	$	0.41406	$	0.41406	$	—	$	0.41406
June	6/30/2022	7/15/2022	0.41406		0.41406		—		0.41406
September	9/30/2022	10/17/2022	0.41406		0.41406		—		0.41406
December	12/30/2022	1/17/2023	0.41406		0.41406		—		0.41406
Total 2022			$	1.65624	$	1.65624	$	—	$	1.65624


	Record Date	Payment Date	Dividend Per Preferred Share		Taxable Ordinary Income		Return of Capital		Section 199A Dividends


September	9/30/2021	10/15/2021	$	0.48307	$	0.48307	$	—	$	0.48307
December	12/31/2021	1/18/2022	0.41406		0.41406		—		0.41406
Total 2021			$	0.89713	$	0.89713	$	—	$	0.89713

For the year ended December 31, 2022, 100.0% of the distributions paid to preferred shareholders were considered ordinary income. For the year ended December 31, 2021, 100.0% of the distributions paid to preferred shareholders were considered ordinary income.