5 unchanged sentences
As of March 25, 2022, we had 73 shareholders of record of our common shares.
+Added: The number of holders does not include individuals or entities who beneficially own shares but whose shares, which are held of record by a broker or clearing agency but does include each such broker or clearing agency as one record holder.
Computershare Trust Company, N.A.
1 unchanged sentence
Dividends and Distribution Policy
−Removed: The holders of our common shares are entitled to receive dividends as may be declared from time to time by the board of directors.
−Removed: Payments of future dividends are within the discretion of the board of directors and depend on, among other factors, our retained earnings, capital requirements, operations and financial condition.
−Removed: As a REIT, we will be required, before the end of any REIT taxable year in which we have accumulated earnings and profits attributable to a non-REIT year, to declare a dividend to our shareholders to distribute such accumulated earnings and profits (a “Purging Distribution”).
−Removed: As of December 31, 2016, we did not have any accumulated earnings and profits attributable to a non-REIT year.
−Removed: From and after the effective date of our REIT election, we intend to pay regular quarterly distributions to holders of our common shares in an amount not less than 90% of our REIT taxable income (determined before the deduction for dividends paid and excluding any net capital gains).
−Removed: federal income tax law generally requires that a REIT distribute annually at least 90% of its REIT taxable income, without regard to the deduction for dividends paid and excluding net capital gains, and that it pay tax at regular corporate rates to the extent that it annually distributes less than 100% of its taxable income.
−Removed: We intend to make distributions to our shareholders to comply with the REIT requirements of the Code.
−Removed: The table below sets forth all dividends paid since 2017:
+Added: federal income tax law generally requires that a REIT distribute annually at least 90% of its taxable income.
+Added: To the extent that it annually distributes less than 100% of its taxable income, the undistributed amount is taxed at regular corporate rates.
+Added: We intend to pay regular quarterly dividends in an amount necessary to maintain our qualification as a REIT.
+Added: Any distributions we make to our shareholders, the amount of such dividend and whether such dividend is payable in cash, our Common Shares or other property, or a combination thereof, is at the discretion of the Board and will depend on, among other things, our actual results of operations and liquidity.
+Added: These results and our ability to pay distributions will be affected by various factors, including the net interest and other income from our portfolio, our operating expenses and other expenditures and the restrictions and limitations imposed by the New York Business Corporation Law, referred to as the BCL, and any restrictions and/or limitations imposed on us by our creditors.
+Added: To comply with certain REIT qualification requirements, we will, before the end of any REIT taxable year in which we have accumulated earnings and profits attributable to a non-REIT year, declare a dividend to our shareholders to distribute such accumulated earnings and profits, referred to as a Purging Distribution.
+Added: As of January 1, 2017, we had no accumulated earnings and profits.
+Added: The table below sets forth dividends paid to the holders of our Common Shares since we began operating as a REIT.
February 27****
1 unchanged sentence
A portion represents a distribution of 2020 income.
+Added: A portion represents a distribution of 2019 income.
Represents a distribution of 2018 income.
18 unchanged sentences
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.