NOTES TO CONSOLIDATED  FINANCIAL STATEMENTS 13. DISTRIBUTIONS In December 2002, 2001 and 2000, the Board of Directors of the Company authorized a distribution of $0.39 per share payable in January 2003, 2002 and 2001, to holders of record on January 17, 2003, January 17, 2002 and January 15, 2001, respectively. As a result, $5,924,000, $5,670,000 and $5,410,000, were paid to common shareholders on January 31, 2003, January 31, 2002 and January 31, 2001, respectively. Also, $2,018,000, $2,017,000 and $2,017,000, were paid to limited partnership unitholders on January 31, 2003, January 31, 2002 and January 31, 2001 ($0.39 per Operating Partnership unit), respectively. These amounts  are reflected as a reduction of stockholders’ equity in the case of common stock dividends and minority interests deductions in the case of limited partner distributions and are included in accounts payable in the accompanying consolidated financial statements.  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.  During 2002, $1.46 per share of the distributions paid represented ordinary dividend income and $0.10 per share represented return of capital to the shareholders. The following summarizes distributions paid during  the years ended December 31, 2002, 2001 and 2000, and includes activity in the Plan as well as limited partnership units issued from the reinvestment of unit distributions: 27 Total Distributions to Dividend Reinvestments Common Limited Partnership  Common Units Discounted (in thousands) Stockholders Unitholders Stock Issued Issued Share Price 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 Distributions during 2001 October 31 $ 5,599 $ 2,018 176,319 -- $ 18.62 July 31 5,529 2,017 175,790 -- 18.04 April 30 5,460 2,017 169,753 -- 17.95 January 31 5,410 2,017 123,561 -- 17.07 $ 21,998 $ 8,069 645,423 -- Distributions during 2000 October 31 $ 5,356 $ 2,018 133,435 -- $ 14.85 July 31 5,305 2,017 125,705 -- 15.34 April 28 5,254 2,017 125,558 -- 14.97 January 31 5,202 2,017 129,789 -- 14.43 $ 21,117 $ 8,069 514,487 --