NOTES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS 34 13. COMMITMENTS AND CONTINGENCIES 14. DISTRIBUTIONS Neither the Company nor the Current Portfolio Properties are subject to any material litigation, nor, to management’s knowledge, is any material litigation currently threatened against the Company, other than routine litigation and administrative proceedings arising in the ordinary course of business. Management believes that these items, individually or in the aggregate, will not have a material adverse impact  on the Company or the Current Portfolio Properties. In December 1995, the Company established a Dividend Reinvestment and Stock Purchase Plan (the “Plan”), to allow its stockholders and holders of limited partnership interests an opportunity to buy additional shares of common stock by reinvesting all or a portion of their dividends or distributions. The Plan provides for investing in newly issued shares of common stock at a 3% discount from market price without payment of any brokerage commissions, service charges or other expenses. All expenses of the Plan are paid by the Company. The Operating Partnership also maintains  a similar dividend reinvestment plan that mirrors the Plan, which allows limited partnership interests the opportunity to buy additional limited partnership units. The Company declared and paid common stock distributions of $1.56 per share during 2004, 2003  and 2002 and paid preferred stock dividends of $1.811 per depositary share during 2004. No preferred stock dividends were paid during 2003 and 2002. For the common stock dividends paid, $1.248, $1.284 and $1.458 per share, represented ordinary dividend income and $0.312, $0.276 and $0.102 per share, represented return of capital to the shareholders for the years 2004, 2003 and 2002, respectively. All of the preferred stock dividends paid are considered ordinary dividend income. The following summarizes distributions paid during the years ended December 31, 2004, 2003  and 2002, and includes activity in the Plan as well  as limited partnership units issued from the reinvestment of unit distributions: Total Distributions to Dividend Reinvestments Limited Common Preferred Common Partnership Stock Shs Units Discounted Stockholders Stockholders Unitholders Issued Issued Share Price ( In thousands ) ( In thousands ) ( In thousands ) Distributions during 2004 October 31 $ 2,000 $ 6,342 $ 2,028 116,006 2,590 $ 31.53 July 31 2,000 6,296 2,027 117,334 2,769 29.10 April 30 2,000 6,236 2,026 140,253 3,270 24.25 January 31 1,244 6,187 2,024 123,689 2,928 26.69 $ 7,244 $ 25,061 $ 8,105 497,282 11,557 Distributions during 2003 October 31 $ -- $ 6,135 $ 2,023 129,319 2,919 $ 26.38 July 31 -- 6,088 2,023 126,862 2,847 26.67 April 30 -- 6,021 2,020 139,576 3,262 22.88 January 31 -- 5,927 2,020 156,413 3,412 21.49 $ -- $ 24,171 $ 8,086 552,170 12,440 Distributions during 2002 October 31 $ -- $ 5,839 $ 2,019 136,107 3,110 $ 23.18 July 31 -- 5,785 2,017 135,603 -- 22.94 April 30 -- 5,736 2,017 119,772 -- 22.94 January 31 -- 5,670 2,017 165,390 -- 20.39 $ -- $ 23,030 $ 8,070 556,872 3,110