Distributions Paid and Payable

6 Months Ended

Jun. 30, 2011

Distributions Paid and Payable [Abstract]

Distributions Paid and Payable

11.   Distributions Paid and Payable

A.  Common Stock

We pay monthly distributions to our common stockholders.  The following is a summary of the monthly distributions paid per common share for the first six months of 2011 and 2010:

Month	2011		2010
January	$	0.1442500	$	0.1430000
February		0.1442500		0.1430000
March		0.1442500		0.1430000
April		0.1445625		0.1433125
May		0.1445625		0.1433125
June		0.1445625		0.1433125
Total	$	0.8664375	$	0.8589375

At June 30, 2011, a distribution of $0.144875 per common share was payable and was paid in July 2011.

B.  Preferred Stock

In 2004, we issued 5.1 million shares of 7.375% Monthly Income Class D cumulative redeemable preferred stock. In May 2009, the Class D preferred shares became redeemable, at our option, for $25 per share. During each of the first six months of 2011 and 2010, we paid six monthly dividends to holders of our Class D preferred stock totaling $0.9218754 per share, or $4.7 million, and at June 30, 2011, a monthly dividend of $0.1536459 per share was payable and was paid in July 2011.

In 2006, we issued 8.8 million shares of 6.75% Monthly Income Class E cumulative redeemable preferred stock. Beginning December 7, 2011, the Class E preferred shares are redeemable, at our option, for $25 per share. During each of the first six months of 2011 and 2010, we paid six monthly dividends to holders of our Class E preferred stock totaling $0.84375 per share, or $7.4 million, and at June 30, 2011, a monthly dividend of $0.140625 per share was payable and was paid in July 2011.

We are current in our obligations to pay dividends on our Class D and Class E preferred stock.