Preferred Shares of Beneficial Interest

On May 8, 2015, we redeemed the remaining outstanding Series F depositary shares totaling $150 million. Upon redemption of these shares, $9.7 million was reported as a deduction in arriving at net income attributable to common shareholders.

At December 31, 2014, we had $150 million of Series F depositary shares outstanding. Each depositary share represented one-hundredth of a Series F Cumulative Redeemable Preferred Share. The depositary shares were redeemable at our option, in whole or in part, for cash at a redemption price of $25 per depositary share, plus any accrued and unpaid dividends thereon. The depositary shares were not convertible or exchangeable for any of our other property or securities. The Series F Preferred Shares paid a 6.5% annual dividend and had a liquidation value of $2,500 per share. Of these outstanding shares, $64.3 million were issued at a discount and had an effective rate of 8.25%.

We redeemed a portion of the Series F depositary shares totaling $200 million on June 5, 2013. Upon the redemption of these shares, a portion of the related original issuance costs totaling $15.7 million was reported as a deduction in arriving at net income attributable to common shareholders.

In 2013, we redeemed all of our outstanding Series D Cumulative Redeemable Preferred Shares.

The following table discloses the cumulative redeemable preferred dividends declared per share:



	Year Ended December 31,
	2015		2014		2013
Series of Preferred Shares:
Series D	$	—	$	—	$	13.08
Series F	64.55		162.50		160.24