Dividends and Equity Issuance Program

6 Months Ended

Jun. 30, 2024

Equity [Abstract]

Dividends and Equity Issuance Program

(3) Dividends and Equity Issuance Program

Dividends and dividend equivalents:

We declared and paid dividends of approximately $10.2 million, or $.730 per share, during the second quarter of 2024 and approximately $10.0 million, or $.720 per share, during the second quarter of 2023. We declared and paid dividends of approximately $20.2 million, or $1.455 per share, during the six-month period ended June 30, 224, and approximately $19.8 million, or $1.435 per share, during the comparable period of 2023. Amounts reflected above include accrued dividends that were paid related to the vesting of restricted stock. Dividend equivalents, which are applicable to shares of unvested restricted stock, were accrued during the first six months of 2024 and 2023 and were or will be paid upon vesting of the restricted stock.

Equity Issuance Program:

During the second quarter of 2024, we filed a shelf registration statement on Form S-3 (File No. 333-278730) (the "Form S-3"), registering the offer and sale, from time-to-time, of an indeterminate amount of the common shares of beneficial interest, preferred shares and debt securities up to an aggregate initial offering price of $100 million to or through one or more underwriters, dealers or agents, or directly to purchasers. The Form S-3 became effective on April 30, 2024.

No shares were issued under the Form S-3 since the effective date of April 30, 2024 through June 30, 2024. As of June 30, 2024, we have paid or incurred approximately $287,000 in various fees and expenses related to the Form S-3. The availability of the potential liquidity under this shelf registration statement depends on investor demand, market conditions and other factors. We make no assurance regarding when, or if, we will issue any securities under this registration statement.