Company: NNN
Filing Date: 2025-02-11
Form Type: 10-K
Source: 0000950170-25-017472
Chunk: 61

Company: NNN REIT, INC.
Filing Date: 2025-02-11
Form: 10-K
Item: Item 1B
Chunk 61
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239

    $
    404,458

    Per share

    2.290

    2.230

The following table presents the characterizations for tax purposes of NNN's common stock dividends for the years ended December 31:

    2024

    2023

    Ordinary dividends(1)
     
    $
    2.286498

    99.8471
    %
     
    $
    2.192636

    98.3245
    %

    Nontaxable distributions

    0.003502

    0.1529
    %

    0.037364

    1.6755
    %

    $
    2.290000

    100.0000
    %
     
    $
    2.230000

    100.0000
    %

    (1)
    Eligible for the 20% qualified business income deduction under section 199A of the Internal Revenue Code of 1986, as amended (the "Code").

On January 14, 2025, NNN declared a dividend of $0.580 per share, payable February 14, 2025, to its common stockholders of record as of January 31, 2025.

Capital Structure

NNN has used, and expects to use in the future, various forms of debt and equity securities primarily to fund property acquisitions and construction on its Properties and to pay down or refinance its outstanding debt. 

The following is a summary of NNN's total outstanding debt as of December 31 (dollars in thousands):

    2024

    Percentageof Total

    2023

    Percentageof Total

    Line of credit payable
     
    $
    —

    —
    %
     
    $
    132,000

    3.0
    %

    Notes payable

    4,373,803

    100.0
    %

    4,228,544

    97.0
    %

    Total outstanding debt
     
    $
    4,373,803

    100.0
    %
     
    $
    4,360,544

    100.0
    %

39

Line of Credit Payable. In April 2024, NNN amended and restated its credit agreement to increase borrowing capacity under its unsecured revolving credit facility from $1,