| Preferred Stock Issued and Outstanding |
The Company’s preferred stock issued and outstanding is as follows: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Liquidation Preference Per Share | | | | Dividend Rate in Effect at March 31, 2026 | Earliest Redemption Date | Date at Which Dividend Rate Resets or Becomes Floating | Reset / Floating Rate | Margin Over Reset / Floating Rate | | Shares Issued and Outstanding (in ones) at | Carrying Value at | | | March 31, 2026 (1) | December 31, 2025 (1) | March 31, 2026 | December 31, 2025 | Issue Date | | Fixed-rate: | | | | | | | | | | | | | Series D | 750,000 | | 750,000 | | $ | 1,000 | | $ | 728 | | $ | 728 | | 03/07/16 | 5.95 | % | 06/01/21 | N/A | N/A | N/A | | Series J | 600,000 | | 600,000 | | 1,000 | | 584 | | 584 | | 03/30/21 | 4.450 | % | 06/01/26 | N/A | N/A | N/A | | Fixed-to-floating rate/Fixed-rate reset: | | | | | | | | | | | Series F | 4,884 | | 4,884 | | 100,000 | | 481 | | 481 | | 10/31/17 | 5.000 | % | 12/01/27 | 12/01/27 | 3M LIBOR (4) | 2.575 | % | | | | | | | | | | | | | Series H (2) | 22,267 | | 22,267 | | 100,000 | | 2,200 | | 2,200 | | 12/11/20 | 4.000 | % | 12/01/30 | 12/01/30 | 10-Year Treasury | 3.079 | % | Series I (3) | 20,554 | | 20,554 | | 100,000 | | 2,030 | | 2,030 | | 03/18/21 | 4.000 | % | 06/01/26 | 06/01/26 | 5-Year Treasury | 3.168 | % | Series K (3) | 7,500 | | 7,500 | | 100,000 | | 740 | | 740 | | 03/04/22 | 5.000 | % | 06/01/27 | 06/01/27 | 5-Year Treasury | 3.256 | % | Total preferred stock | 1,405,205 | | 1,405,205 | | | $ | 6,763 | | $ | 6,763 | | | | | | | |
(1) Represented by depositary shares. (2) The dividend rate for Series H resets on each ten-year anniversary from the first reset date. (3) The dividend rate for Series I and Series K resets on each five-year anniversary from the first reset date. (4) The reset/floating rate for Series F will be determined by the calculation agent prior to the commencement of the floating rate period using what the calculation agent determines to be the industry-accepted substitute or successor base rate to LIBOR. N/A Not applicable.
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| Dividends Declared |
Dividends declared on the Company’s preferred stock are as follows: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended March 31, | | | | 2026 | | 2025 | | | | | | Total Declared | | Per Share Amount | | Total Declared | | Per Share Amount | | | | | | | | | | | | | | | | | | | | | | | | | Series D (1) | $ | 11.2 | | | $ | 14.88 | | | $ | 11.2 | | | $ | 14.88 | | | | | | | | | | | | | | | | | | | | | | | | | | Series F (2) | — | | | — | | | — | | | — | | | | | | | | | | Series G (3) | — | | | — | | | 33.0 | | | 1,343.75 | | | | | | | | | | Series H (1) | 22.3 | | | 1,000.00 | | | 22.3 | | | 1,000.00 | | | | | | | | | | Series I (1) | 20.6 | | | 1,000.00 | | | 20.6 | | | 1,000.00 | | | | | | | | | | Series J (1) | 6.7 | | | 11.13 | | | 6.7 | | | 11.13 | | | | | | | | | | Series K (1) | 9.3 | | | 1,250.00 | | | 9.3 | | | 1,250.00 | | | | | | | | | | | Total | $ | 70.1 | | | | | $ | 103.1 | | | | | | | | | | | |
(1) Dividends paid quarterly. (2) Dividends paid semi-annually until December 1, 2027 and quarterly thereafter. (3) Series G was redeemed on June 2, 2025. Prior to redemption, dividends were paid quarterly. The final dividend was paid on June 2, 2025.
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