Dividends Declared and Paid

12 Months Ended

Dec. 31, 2024

Common Dividends

The Company declared total common share dividends of $0.28 per share and distributions on LTIP units of $0.28 per unit during the year ended December 31, 2024. The Company declared total common share dividends of $0.28 per share and distributions on LTIP units of $0.28 per unit during the year ended December 31, 2023. The dividends and distributions and their tax characterization for the years ended December 31, 2024 and 2023 were as follows:



	Record Date	Payment Date	Common share distribution amount		LTIP unit distribution amount		Taxable Ordinary Income		Return of Capital		Section 199A Dividends


March	3/28/2024	4/15/2024	0.07		0.07		0.05392		0.01608		0.05392




June	6/28/2024	7/15/2024	0.07		0.07		0.05392		0.01608		0.05392




September	9/30/2024	10/15/2024	0.07		0.07		0.05392		0.01608		0.05392




December	12/31/2024	1/15/2025	0.07		0.07		0.05392		0.01608		0.05392



Total 2024			$	0.28	$	0.28	$	0.21568	$	0.06432	$	0.21568


	Record Date	Payment Date	Common share distribution amount		LTIP unit distribution amount		Taxable Ordinary Income		Return of Capital		Section 199A Dividends


March	3/31/2023	4/17/2023	0.07		0.07		0.07		—		0.07




June	6/30/2023	7/17/2023	0.07		0.07		0.07		—		0.07




September	9/29/2023	10/16/2023	0.07		0.07		0.07		—		0.07




December	12/29/2023	1/16/2024	0.07		0.07		0.07		—		0.07


Total 2023			$	0.28	$	0.28	$	0.28	$	—	$	0.28

For the year ended December 31, 2024, 77.03% of the distributions paid to common shareholders were considered ordinary income and 22.97% of the distributions paid to common shareholders were considered a return of capital. For the year ended December 31, 2023, 100.0% of the distributions paid to common shareholders were considered ordinary income.

Preferred Dividends

During the years ended December 31, 2024 and 2023, the Company declared total dividends of $1.65624 and $1.65624, respectively, per share of 6.625% Series A Cumulative Redeemable Preferred Shares. The preferred dividends and their tax characterization for the years ended December 31, 2024 and 2023 were as follows:


	Record Date	Payment Date	Dividend Per Preferred Share		Taxable Ordinary Income		Return of Capital		Section 199A Dividends
March	3/28/2024	4/15/2024	$	0.41406	$	0.41406	$	—	$	0.41406
June	6/28/2024	7/15/2024	0.41406		0.41406		—		0.41406
September	9/30/2024	10/15/2024	0.41406		0.41406		—		0.41406
December	12/31/2024	1/15/2025	0.41406		0.41406		—		0.41406
Total 2024			$	1.65624	$	1.65624	$	—	$	1.65624


	Record Date	Payment Date	Dividend Per Preferred Share		Taxable Ordinary Income		Return of Capital		Section 199A Dividends
March	3/31/2023	4/17/2023	$	0.41406	$	0.41406	$	—	$	0.41406
June	6/30/2023	7/17/2023	0.41406		0.41406		—		0.41406
September	9/29/2023	10/16/2023	0.41406		0.41406		—		0.41406
December	12/29/2023	1/16/2024	0.41406		0.41406		—		0.41406
Total 2023			$	1.65624	$	1.65624	$	—	$	1.65624

For the year ended December 31, 2024, 100.0% of the distributions paid to preferred shareholders were considered ordinary income. For the year ended December 31, 2023, 100.0% of the distributions paid to preferred shareholders were considered ordinary income.