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): 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 — — 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. In February 2014, NNN declared a dividend on its Series D and E Preferred Stock of 41.40625 and 35.62500 cents per  depositary share, respectively, payable March 14, 2014. Note 14 – Income Taxes: For income tax purposes, NNN has taxable REIT subsidiaries in which certain real estate activities are conducted. NNN treats some depreciation expense and certain other items differently for tax than for financial reporting purposes. The  principal differences between NNN’s effective tax rates for the years ended December 31, 2013, 2012 and 2011, and the  statutory rates relate to state taxes and nondeductible expenses. In 2010, NNN acquired the 21.1% non-controlling interest in its majority owned and controlled subsidiary, OAMI, pursuant to  which OAMI became a wholly owned subsidiary of NNN. OAMI has remaining tax liabilities relating to the built-in gain of its  assets.  67