XML 31 R20.htm IDEA: XBRL DOCUMENT v3.24.3
STOCKHOLDER DIVIDENDS
3 Months Ended
Sep. 30, 2024
STOCKHOLDER DIVIDENDS [Abstract]  
STOCKHOLDER DIVIDENDS
NOTE 14 – STOCKHOLDER DIVIDENDS


The following table reflects the dividends per share that we have declared on our common stock and preferred stock during the three months ended September 30, 2024:



 
 
Dividends
 
 
 
Common Stock
   
Series A Preferred Stock
   
Series B Preferred Stock
 
During the Quarter Ended
 
Per Share
   
Amount
   
Per Share
   
Amount
   
Per Share
   
Amount
 
September 30, 2024
 
$
0.125
   
$
1,679,460
   
$
0.375
   
$
287,036
   
$
0.750
   
$
45,378
*


* Of the total dividends declared for Series B during the three months ended September 30, 2024, $34,037 was an increase in liquidation preference and $11,341 was the cash dividend.


The above common and preferred dividends declared were recorded as dividends payable in the consolidated balance sheets as of September 30, 2024, and were subsequently paid in October 2024.

On October 7, 2024, we declared the Series A Preferred stock quarterly dividend of $0.375 per share payable at the rate of $0.125 per month for holders of record as of October 31, 2024, November 30, 2024, and December 31, 2024. The Series A preferred stock dividend declared on October 7, 2024, will be paid in January 2025.

On October 7, 2024, we also declared the Series B Preferred stock quarterly 3% dividend of $0.1875 per share payable at the rate of $0.0625 per month for holders of record as of October 31, 2024, November 30, 2024, and December 31, 2024. The Series B preferred stock dividend declared on October 7, 2024, will be paid in January 2025. In addition, the Series B Preferred Stock will accrue dividends at the rate of 9% per annum on the stated value as an increase in liquidation preference.

On October 7, 2024, we also declared the common stock quarterly dividend of $0.125 per share which will be paid in January 2025.



The following table reflects the distributions declared by the Operating Partnership for the Class A and Preferred unit holders during the three months ended September 30, 2024:



 
 
Distributions
 
 
 
Class A Units
   
Series A Preferred Units
   
Series B Preferred Units
 
During the Quarter Ended
 
Per Share
   
Amount
   
Per Share
   
Amount
   
Per Share
   
Amount
 
September 30, 2024
 
$
0.125
   
$
10,269
   
$
0.375
   
$
382,489
   
$
0.750
   
$
32,410
*

* Of the total distributions declared for Series B during the three months ended September 30, 2024, $24,307 was an increase in liquidation preference and $8,103 was the cash dividend.

During the three months ended September 30, 2024, the Operating Partnership paid Series A preferred distributions of $342,654, of which $23,514 have been reinvested under our DRIP. Preferred (Series A and B), and common distributions declared during the three months ended September 30, 2024 were paid in October 2024.

The following table reflects the dividends per share that we have declared on our common stock and preferred stock during the three months ended September 30, 2023:

   
Dividends
 
   
Common Stock
   
Series A Preferred Stock
 
During the Quarter Ended
 
Per Share
   
Amount
   
Per Share
   
Amount
 
September 30, 2023
 
$
0.125
   
$
1,652,688
   
$
0.375
   
$
268,383
 

The above common and preferred quarterly dividends declared during the quarter were paid in October 2023.
 
During the three months ended September 30, 2023, we paid common dividends of $1,586,864, of which $443,271 have been reinvested under our DRIP. Similarly, during the three months ended September 30, 2023, we paid Series A preferred dividends of $242,173, of which $39,858 have been reinvested under our DRIP.

The following table reflects the distributions declared by the Operating Partnership for the Class A and Preferred unit holders during the three months ended September 30, 2023:

   
Distributions
 
   
Class A Units
   
Series A Preferred Units
 
During the Quarter Ended
 
Per Share
   
Amount
   
Per Share
   
Amount
 
September 30, 2023
 
$
0.125
   
$
10,372
   
$
0.375
   
$
177,930
 

The above common and preferred distributions declared during the quarter were paid in October 2023.

During the three months ended September 30, 2023, the Operating Partnership paid Class A distributions of $10,229. Similarly, during the three months ended September 30, 2023, the Operating Partnership paid Series A preferred distributions of $177,589, of which $20,454 have been reinvested under our DRIP.