XML 53 R37.htm IDEA: XBRL DOCUMENT v3.22.4
Shareholders' Equity (Tables)
12 Months Ended
Dec. 31, 2022
Equity [Abstract]  
Schedule Of Preferred Shares Issuances

The following table summarizes the Company’s preferred share issuances (the “Series”):

Preferred Share Offering

 

Date of Issuance

 

Number of Depositary Shares Issued and Outstanding (1)

 

 

Liquidation Preference

 

 

Underwriting Discounts

 

 

Net Proceeds

 

7.00% Series A fixed-to-floating rate cumulative redeemable perpetual preferred shares ("Series A") (2)

 

April 2021

 

 

6,000,000

 

 

$

150,000

 

 

$

5,292

 

 

$

144,708

 

6.25% Series B fixed rate cumulative redeemable perpetual preferred shares ("Series B") (3)

 

August 2021

 

 

6,000,000

 

 

 

150,000

 

 

 

5,128

 

 

 

144,872

 

Total

 

 

 

 

12,000,000

 

 

$

300,000

 

 

$

10,420

 

 

$

289,580

 

 

(1)
Each depositary share representing a 1/1,000th interest in a preferred share, $25,000 liquidation preference per share (equivalent to $25.00 per depositary share).
(2)
Series A have no maturity date and are redeemable from June 15, 2026 (the “first reset date”) by the Company.
(3)
Series B have no maturity date and are redeemable from December 15, 2026 by the Company.
Summary of Company's Board of Directors Approved and Declared Quarterly Preferred Cash Dividends

The Company’s board of directors approved and declared the following quarterly preferred cash dividends during the years ended December 31, 2022 and 2021 on its issued and outstanding preferred shares:

 

 

 

2022

 

 

2021

 

Preferred Share Offering

 

Aggregate Payment

 

 

Per Depositary Share Payment (1)

 

 

Aggregate Payment

 

 

Per Depositary Share Payment (1) (2)

 

Series A

 

$

10,500

 

 

$

0.44

 

 

$

7,058

 

 

$

0.44

 

Series B

 

$

9,375

 

 

$

0.39

 

 

$

2,917

 

 

$

0.49

 

Total

 

$

19,875

 

 

 

 

 

$

9,975

 

 

 

 

 

(1)
Rounded to the nearest whole cent.
(2)
In June 2021, September 2021, and December 2021, the dividend declared per depositary share on Series A were $0.30, $0.44, and $0.44, respectively.