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Dividends Declared and Paid
 12 Months Ended
Dec. 31, 2015
Equity [Abstract]  
Dividends Declared and Paid
Dividends Declared and Paid
The Company declared regular common share dividends of $1.20 per share and distributions on LTIP units of $1.20 per unit for the year ended December 31, 2015. The dividends and distributions and their tax characterization were as follows:
 
 
Record
Date
 
Payment
Date
 
Common
Share
Distribution
Amount
 
LTIP
Unit
Distribution
Amount
 
Ordinary Income
 
Capital Gain
January
1/30/2015
 
2/27/2015
 
$
0.10

 
$
0.10

 
$
0.094

 
$
0.006

February
2/27/2015
 
3/27/2015
 
0.10

 
0.10

 
0.094

 
0.006

March
3/31/2015
 
4/24/2015
 
0.10

 
0.10

 
0.094

 
0.006

1st Quarter 2015
 
 
 
 
$
0.30

 
$
0.30

 
$
0.282

 
$
0.018

 
 
 
 
 
 
 
 
 
 
 
 
April
4/30/2015
 
5/29/2015
 
$
0.10

 
$
0.10

 
$
0.094

 
$
0.006

May
5/29/2015
 
6/26/2015
 
0.10

 
0.10

 
0.094

 
0.006

June
6/30/2015
 
7/31/2015
 
0.10

 
$
0.10

 
0.094

 
0.006

2nd Quarter 2015
 
 
 
 
$
0.30

 
$
0.30

 
$
0.282

 
$
0.018

 
 
 
 
 
 
 
 
 
 
 
 
July
7/31/2015
 
8/28/2015
 
$
0.10

 
$
0.10

 
$
0.094

 
$
0.006

August
8/31/2015
 
9/25/2015
 
0.10

 
0.10

 
0.094

 
0.006

September
9/30/2015
 
10/30/2015
 
$
0.10

 
0.10

 
$
0.094

 
$
0.006

3rd Quarter 2015
 
 
 
 
$
0.30

 
$
0.30

 
$
0.282

 
$
0.018

 
 
 
 
 
 
 
 
 
 
 
 
October
10/30/2015
 
11/27/2015
 
$
0.10

 
$
0.10

 
$
0.094

 
$
0.006

November
11/30/2015
 
12/28/2015
 
0.10

 
0.10

 
0.094

 
0.006

December
12/31/2015
 
1/29/2016
 
$
0.10

 
$
0.10

 
$
0.094

 
$
0.006

4th Quarter 2015
 
 
 
 
$
0.30

 
$
0.30

 
$
0.282

 
$
0.018

 
 
 
 
 
 
 
 
 
 
 
 
Total 2015
 
 
 
 
$
1.20

 
$
1.20

 
$
1.128

 
$
0.072



 
 
Record
Date
 
Payment
Date
 
Common
Share
Distribution
Amount
 
LTIP
Unit
Distribution
Amount
 
Ordinary Income
 
Capital Gain
January
1/31/2014
 
2/28/2014
 
$
0.07

 
$
0.07

 
$
0.069

 
$
0.001

February
2/28/2014
 
3/28/2014
 
0.07

 
0.07

 
0.069

 
0.001

March
3/31/2014
 
4/25/2014
 
0.07

 
0.07

 
0.069

 
0.001

1st Quarter 2014
 
 
 
 
$
0.21

 
$
0.21

 
$
0.207

 
$
0.003

 
 
 
 
 
 
 
 
 
 
 
 
April
4/30/2014
 
5/30/2014
 
$
0.08

 
$
0.08

 
$
0.078

 
$
0.002

May
5/30/2014
 
6/27/2014
 
0.08

 
0.08

 
0.078

 
0.002

June
6/30/2014
 
7/25/2014
 
0.08

 
$
0.08

 
0.078

 
0.002

2nd Quarter 2014
 
 
 
 
$
0.24

 
$
0.24

 
$
0.234

 
$
0.006

 
 
 
 
 
 
 
 
 
 
 
 
July
7/31/2014
 
8/29/2014
 
$
0.08

 
$
0.08

 
$
0.078

 
$
0.002

August
8/29/2014
 
9/26/2014
 
0.08

 
0.08

 
0.078

 
0.002

September
9/30/2014
 
10/31/2014
 
$
0.08

 
0.08

 
$
0.078

 
$
0.002

3rd Quarter 2014
 
 
 
 
$
0.24

 
$
0.24

 
$
0.234

 
$
0.006

 
 
 
 
 
 
 
 
 
 
 
 
October
10/31/2014
 
11/28/2014
 
$
0.08

 
$
0.08

 
$
0.078

 
$
0.002

November
11/28/2014
 
12/26/2014
 
0.08

 
0.08

 
0.078

 
0.002

December
12/31/2014
 
1/30/2015
 
$
0.08

 
$
0.08

 
$
0.078

 
$
0.002

4th Quarter 2014
 
 
 
 
$
0.24

 
$
0.24

 
$
0.234

 
$
0.006

 
 
 
 
 
 
 
 
 
 
 
 
Total 2014
 
 
 
 
$
0.93

 
$
0.93

 
$
0.909

 
$
0.021



For the year ended December 31, 2015, approximately 94.0% of the distributions paid to stockholders were considered ordinary income and approximately 6.0% were considered capital gains. For the year ended December 31, 2014, approximately 97.7% of the distributions paid to stockholders were considered ordinary income and approximately 2.3% were considered a return of capital for federal income tax purposes. A special dividend payment of $0.08 per share was authorized by the Company's Board of Trustees and declared by the Company on December 31, 2015. This special dividend was paid on January 29, 2016 to shareholders of record on January 15, 2016 and will be taxable to shareholders in 2016.