Company: NNN
Filing Date: 2025-02-11
Form Type: 10-K
Source: 0000950170-25-017472
Chunk: 137

Company: NNN REIT, INC.
Filing Date: 2025-02-11
Form: 10-K
Item: Item 6
Chunk 137
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 in net repayments of NNN's Credit Facility, 

•$489,390,000 in net proceeds from the issuance in May of the 5.500% notes payable due in June 2034,

•$350,000,000 payment in June for the redemption of the 3.900% notes payable due in June 2024,

•$211,619,000 from the issuance of 4,652,100 shares of common stock in connection with the at-the-market equity program ("ATM"), 

•$2,634,000 from the issuance of 64,654 shares of common stock in connection with the Dividend Reinvestment and Stock Purchase Plan (“DRIP”), and

•$420,239,000 in dividends paid to common stockholders.

37

Material Cash Requirements

NNN's material cash requirements include (i) long-term debt maturities; (ii) interest on long-term debt; (iii) common stock dividends (although all future distributions will be declared and paid at the discretion of the Board of Directors); and (iv) to a lesser extent, Property construction and other Property related costs that may arise.

The table presents material cash requirements related to NNN's long-term obligations outstanding as of December 31, 2024 (see "Capital Structure") (dollars in thousands): 

    Date of Obligation

    Total

    2025

    2026

    2027

    2028

    2029

    Thereafter

    Long-term debt(1)
     
    $
    4,450,000

    $
    400,000

    $
    350,000

    $
    400,000

    $
    400,000

    $
    —

    $
    2,900,000

    Long-term debt – interest(2)

    2,062,506

    176,250

    161,725

    146,733

    132,067

    118,450

    1,327,281

    Total contractual cash obligations
     
    $
    6,512,506

    $
    576,250

    $
    511,725

    $
    546,733

    $
    532,067

    $
    118,450

    $
    4,227,281

    (1)
    Includes only principal amounts outstanding under notes payable