Tax Info / Dividends

Tax Treatment of 2023 Dividends

Record Date Payment Date Cash Distribution Adjustment Dividend Box 1a Ordinary Dividends Box 1b Qualified Dividends(1) Box 2a Capital Gain Dividends Box 5 Section 199A Dividends(2)
Dec 30, 2022 Jan 13, 2023 $0.00 $0.06 $0.06(3) $0.06 $0.00 $0.00 $0.06
Mar 31, 2023 Apr 15, 2023 $0.62 $0.00 $0.62 $0.62 $0.01 $0.00 $0.61
Jun 30, 2023 Jul 15, 2023 $0.62 $0.00 $0.62 $0.62 $0.01 $0.00 $0.61
Sep 30, 2023 Oct 14, 2023 $0.62 $0.00 $0.62 $0.62 $0.01 $0.00 $0.61
Dec 29, 2023 Jan 16, 2024 $0.62 $(0.39) $0.23(4) $0.23 $0.00 $0.00 $0.23
Total $2.48 $(0.33) $2.15 $2.15 $0.03 $0.00 $2.12

(1) Qualified Dividends shows the portion of the amount of Box 1a Ordinary Dividends that may be eligible for capital gains tax rates pursuant to IRC Section 857(c).
(2) Section 199A Dividends shows the portion of the amount of Box 1a Ordinary Dividends that may be eligible for the 20% deduction applicable to “qualified REIT dividends” under IRC Section 199A(b)(1)(B). Please consult your tax advisor.
(3) The cash dividend of $0.62 per share of common stock (with a record date of December 30, 2022, that was paid on January 13, 2023) is a split-year dividend, of which $0.56 was allocable to 2022 for federal income tax purposes and the remaining $0.06 is allocable to 2023 for federal income tax purposes.
(4) The cash dividend of $0.62 per share of common stock (with a record date of December 29, 2023, that was paid on January 16, 2024) is a split-year dividend, of which $0.23 is allocable to 2023 for federal income tax purposes and the remaining $0.39 will be allocable to 2024 for federal income tax purposes.

Tax Treatment of 2022 Dividends

Record Date Payment Date Cash Distribution Adjustment Dividend(1) Ordinary Dividends(2) Qualified Dividends Capital Gain Dividends
Dec 31, 2021 Jan 14, 2022 $0.00 $0.33 $0.33(3) $0.330000 $0.000000 $0.000000
Mar 31, 2022 Apr 15, 2022 $0.62 $0.00 $0.62 $0.620000 $0.000000 $0.000000
Jun 30, 2022 Jul 15, 2022 $0.62 $0.00 $0.62 $0.620000 $0.000000 $0.000000
Sep 30, 2022 Oct 14, 2022 $0.62 $0.00 $0.62 $0.620000 $0.000000 $0.000000
Dec 30, 2022 Jan 13, 2023 $0.62 $(0.06) $0.56 $0.560000 $0.000000 $0.000000
Total $2.48 $0.09 $2.75 $2.750000 $0.000000 $0.000000

(1) Pursuant to IRC Section 857(b)(9), cash distributions made on January 13, 2023 with a record date of December 30, 2022 are treated as received by shareholders on December 31, 2022 to the extent of 2022 earnings and profits. As the Company’s aggregate 2022 dividends declared exceeded its 2022 earnings and profits, a portion of the January 2023 cash distribution declared in the fourth quarter of 2022 was treated as a 2023 distribution for federal income tax purposes and not included on the 2022 Form 1099. If you were a stockholder of record as of December 31, 2022, $0.56 is reported on your 2022 Form 1099 and $0.06 will be reported on your 2023 Form 1099.
(2) Ordinary dividends may be eligible for the 20% deduction applicable to “qualified REIT dividends” under IRC Section 199A(b)(1)(B). Please consult your tax advisor.
(3) As the Company’s aggregate 2021 cash distributions exceeded its 2021 earnings and profits, a portion of the January 2022 cash distribution declared in the fourth quarter of 2021 was treated as a 2022 distribution for federal income tax purposes and not included on the 2021 Form 1099. If you were a stockholder of record as of December 31, 2021, $0.29 was reported on your 2021 Form 1099 and $0.33 is reported on your 2022 Form 1099.

Tax Treatment of 2021 Dividends

Record Date Payment Date Cash Distribution Adjustment Dividend(1) Ordinary Dividends(2) Qualified Dividends Capital Gain Dividends
Dec 31, 2020 Jan 15, 2021 $0.00 $0.42 $0.42(3) $0.420000 $0.000000 $0.000000
Mar 31, 2021 Apr 15, 2021 $0.62 $0.00 $0.62 $0.620000 $0.000000 $0.000000
Jun 30, 2021 Jul 15, 2021 $0.62 $0.00 $0.62 $0.620000 $0.000000 $0.000000
Sep 30, 2021 Oct 15, 2021 $0.62 $0.00 $0.62 $0.620000 $0.000000 $0.000000
Dec 31, 2021 Jan 14, 2022 $0.62 $(0.33) $0.29 $0.290000 $0.000000 $0.000000
Total $2.48 $0.09 $2.57 $2.570000 $0.000000 $0.000000

(1) Pursuant to IRC Section 857(b)(9), cash distributions made on January 15, 2022 with a record date of December 31, 2021 are treated as received by shareholders on December 31, 2021 to the extent of 2021 earnings and profits. As the Company’s aggregate 2021 dividends declared exceeded its 2021 earnings and profits, a portion of the January 2022 cash distribution declared in the fourth quarter of 2021 was treated as a 2022 distribution for federal income tax purposes and not included on the 2021 Form 1099. If you were a stockholder of record as of December 31, 2021, $0.29 is reported on your 2021 Form 1099 and $0.33 will be reported on your 2022 Form 1099.
(2) Ordinary dividends may be eligible for the 20% deduction applicable to “qualified REIT dividends” under IRC Section 199A(b)(1)(B). Please consult your tax advisor.
(3) As the Company’s aggregate 2020 cash distributions exceeded its 2020 earnings and profits, a portion of the January 2021 cash distribution declared in the fourth quarter of 2020 was treated as a 2021 distribution for federal income tax purposes and not included on the 2020 Form 1099. If you were a stockholder of record as of December 31, 2020, $0.20 was reported on your 2020 Form 1099 and $0.42 is reported on your 2021 Form 1099.