Shareholders' Equity/Partners' Capital (Tables)

12 Months Ended

Dec. 31, 2024

The following table sets forth the details of our preferred shares of beneficial interest and the preferred units of the Operating Partnership outstanding as of December 31, 2024 and 2023. During 2024, we paid $62,112,000 in preferred dividends.


(Amounts in thousands, except share/unit and per share/per unit amounts)
				Per Share/Unit
Preferred Shares/Units	Balance		Shares/Units Outstanding	Liquidation Preference		Annual Dividend/ Distribution(1)
Convertible Preferred:
6.5% Series A: authorized 12,902 shares/units(2)	$	825	9,180	$	50.00	$	3.25
Cumulative Redeemable Preferred(3):
5.40% Series L: authorized 13,800,000 shares/units	290,306		12,000,000	25.00		1.35
5.25% Series M: authorized 13,800,000 shares/units	308,946		12,780,000	25.00		1.3125
5.25% Series N: authorized 12,000,000 shares/units	291,134		12,000,000	25.00		1.3125
4.45% Series O: authorized 12,000,000 shares/units	291,153		12,000,000	25.00		1.1125
	$	1,182,364	48,789,180

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(1)Dividends on preferred shares and distributions on preferred units are cumulative and are payable quarterly in arrears.

(2)Redeemable at the option of Vornado under certain circumstances, at a redemption price of 1.9531 common shares/Class A units per Series A preferred share/unit plus accrued and unpaid dividends/distributions through the date of redemption, or convertible at any time at the option of the holder for 1.9531 common shares/Class A units per Series A preferred share/unit.

(3)Series L and Series M preferred shares/units are redeemable at Vornado's option at a redemption price of $25.00 per share/unit, plus accrued and unpaid dividends/distributions through the date of redemption. Series N preferred shares/units are redeemable commencing November 2025 and Series O preferred shares/units are redeemable commencing September 2026, each at a redemption price of $25.00 per share/unit.