Dividends and Distributions (Tables)

12 Months Ended

Dec. 31, 2021

Schedule of dividends declared and distributions paid

The following tables summarize dividends and distributions declared and paid to the holders of common shares in 2021, 2020 and 2019:


2021
Month Declared/Paid	Distribution Per Share		Distributions Declared		Distributions Paid
(In thousands, except per share amounts)
December (2020)/January	$	0.21	$	—	$	53,820
December(a)			—		(693)		Dividend equivalents accrued on unvested restricted stock units to be paid when the awards vest.
December (2020)/January			—		6		Dividend equivalents paid on unvested restricted stock units that are not expected to vest (recognized as additional compensation).
December (2020)/January(b)			—		1,823		Dividend equivalents paid on vested restricted stock units related to the market performance-based awards granted in 2018.
March/April	0.22		56,029		56,029
March(c)			—		(179)		Dividend equivalents accrued on unvested restricted stock units to be paid when the awards vest.
March/April			—		7		Dividend equivalents paid on unvested restricted stock units that are not expected to vest (recognized as additional compensation).
May/July	0.22		57,897		57,897
May (d)					(178)		Dividend equivalents accrued on unvested restricted stock units to be paid when the awards vest.
May/July					6		Dividend equivalents paid on unvested restricted stock units that are not expected to vest (recognized as additional compensation).
August/October	0.22		59,026		59,026
October(e)					(49)		Dividend equivalents accrued on unvested restricted stock units to be paid when the awards vest.
August/October					7		Dividend equivalents paid on unvested restricted stock units that are not expected to vest (recognized as additional compensation).
December	$	0.22	59,440		—
			$	232,392	$	227,522

(a)Declared in December 2020 and included in the $53.8 million declared, see description to the right regarding timing of payment.

(b)Dividend equivalents accrued related to the market performance-based awards granted in 2018 paid in January following award vesting date of January 8, 2021.

(c)Declared in March and included in the $56.0 million declared, see description to the right regarding timing of payment.

(d)Declared in May and included in the $57.9 million declared, see description to the right regarding timing of payment.

(e)Declared in August and included in the $59.0 million declared, see description to the right regarding timing of payment.


2020
Month Declared/Paid	Distribution Per Share		Distributions Declared		Distributions Paid
(In thousands, except per share amounts)
December (2019)/January	$	0.20	$	—	$	38,796
December (a)			—		(169)		Dividend equivalents accrued on unvested restricted stock units to be paid when the awards vest.
December (2019)/January			—		4		Dividend equivalents paid on unvested restricted stock units that are not expected to vest (recognized as additional compensation).
March/April	0.21		42,568		42,568
March (b)			—		(233)		Dividend equivalents accrued on unvested restricted stock units to be paid when the awards vest.
March/April			—		10		Dividend equivalents paid on unvested restricted stock units that are not expected to vest (recognized as additional compensation).
June/July	0.21		43,271		43,271
June (c)			—		(232)		Dividend equivalents accrued on unvested restricted stock units to be paid when the awards vest.
June/July			—		10		Dividend equivalents paid on unvested restricted stock units that are not expected to vest (recognized as additional compensation).
September/October	0.21		43,282		43,282
October (d)			—		(231)		Dividend equivalents accrued on unvested restricted stock units to be paid when the awards vest.
September/October			—		10		Dividend equivalents paid on unvested restricted stock units that are not expected to vest (recognized as additional compensation).
December	$	0.21	53,820		—
			$	182,941	$	167,086

(a)Declared in December 2019 and included in the $38.8 million declared, see description to the right regarding timing of payment.

(b)Declared in March and included in the $42.6 million declared, see description to the right regarding timing of payment.

(c)Declared in May and included in the $43.3 million declared, see description to the right regarding timing of payment.

(d)Declared in September and included in the $43.3 million declared, see description to the right regarding timing of payment.


2019
Month Declared/Paid	Distribution Per Share		Distributions Declared		Distributions Paid
(In thousands, except per share amounts)
December (2018)/January	$	0.1875	$	—	$	28,218
December (a)					(127)		Dividend equivalents accrued on unvested restricted stock units to be paid when the awards vest.
December (2018)/January					7		Dividend equivalents paid on unvested restricted stock units that are not expected to vest (recognized as additional compensation).
March/April	0.20		30,235		30,235
March (b)			—		(142)		Dividend equivalents accrued on unvested restricted stock units to be paid when the awards vest.
March/April			—		15		Dividend equivalents paid on unvested restricted stock units that are not expected to vest (recognized as additional compensation).
June/July	0.20		38,764		38,764
June (c)			—		(172)		Dividend equivalents accrued on unvested restricted stock units to be paid when the awards vest.
June/July			—		13		Dividend equivalents paid on unvested restricted stock units that are not expected to vest (recognized as additional compensation).
September/October	0.20		38,795		38,795
October(d)			—		(170)		Dividend equivalents accrued on unvested restricted stock units to be paid when the awards vest.
September/October			—		7		Dividend equivalents paid on unvested restricted stock units that are not expected to vest (recognized as additional compensation).
December/January (2020)	$	0.20	38,796		—
			$	146,590	$	135,443

(a)Declared in December 2018 and included in the $28.2 million declared, see description to the right regarding timing of payment.

(b)Declared in March and included in the $30.2 million declared, see description to the right regarding timing of payment.

(c)Declared in June and included in the $38.8 million declared, see description to the right regarding timing of payment.

(d)Declared in September and included in the $38.8 million declared, see description to the right regarding timing of payment.

Schedule of distribution type

The composition of the Company’s distributions per common share is as follows:


Common Shares	2021		2020		2019
Ordinary income	41	%	35	%	83	%
Capital gains	0	%	0	%	0	%
Return of capital	59	%	65	%	17	%
	100	%	100	%	100	%