One of NNN’s primary objectives, consistent with its policy of retaining sufficient cash for reserves and working capital  purposes and maintaining its status as a REIT, is to distribute a substantial portion of its funds available from operations to its  stockholders in the form of dividends. The following table outlines the dividends declared and paid for NNN's common stock for the years ended December 31 (in  thousands, except per share data): The following presents the characterizations for tax purposes of such common stock dividends for the years ended  December 31: In February 2014, NNN paid dividends to its common stockholders of $49,274,000, or $0.405 per share of common stock. Holders of NNN’s preferred stock issuance are entitled to receive, when and as authorized by the Board of Directors,  cumulative preferential cash distributions based on the stated rate and liquidation preference per annum. The following table  outlines the dividends declared and paid for NNN's preferred stock for the years ended December 31(in thousands, except per  share data): 1) The Series C Preferred Stock was redeemed in March 2012. The dividends paid during the quarter ended March 31, 2012  include accumulated and unpaid dividends through the redemption date. 2) The Series D Preferred Stock dividends paid during the quarter ended June 30, 2012 include accumulated and unpaid  dividends from the issuance date through the declaration date. The Series D Preferred Stock has no maturity date and will  remain outstanding unless redeemed.  3) The Series E Preferred Stock dividends paid during the quarter ended September 30, 2013 include accumulated and  unpaid dividends from the issuance date through the declaration date. The Series E Preferred Stock has no maturity date and  will remain outstanding unless redeemed.   31 2013 2012 2011 Series C Preferred Stock $^{(1)}$: Dividends $ — $ 1,979 $ 6,785 Per share — 0.537760 1.843750 Series D Preferred Stock $^{(2)}$: Dividends 19,047 15,449 — Per share 1.656250 1.343403 — Series E Preferred Stock $^{(3)}$: Dividends 8,876 — — Per share 0.771875 — — 2013 2012 2011 Ordinary dividends $ 1.224568 76.5355% $ 1.199003 76.8592% $ 1.088228 71.1260% Qualified dividends 0.056784 3.5490% 0.013346 0.8555% — — Capital gain — — 0.021358 1.3691% — — Unrecaptured Section 1250 Gain 0.000650 0.0406% 0.048890 3.1340% — — Nontaxable distributions 0.317998 19.8749% 0.277403 17.7822% 0.441772 28.8740% $ 1.600000 100.0000% $ 1.560000 100.0000% $ 1.530000 100.0000% 2013 2012 2011 Dividends $ 189,107 $ 167,495 $ 133,720 Per share 1.600 1.560 1.530