| Computation of basic and diluted earnings per share |
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Earnings Per Share |
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For the Three Months Ended |
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For the Six Months Ended |
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June 30, 2016 |
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June 30, 2015 |
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June 30, 2016 |
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June 30, 2015 |
Net income attributable to CorEnergy stockholders |
$ |
8,954,527 |
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|
$ |
4,185,138 |
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|
$ |
12,345,648 |
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|
$ |
8,271,766 |
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Less: preferred dividend requirements |
1,037,109 |
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|
1,037,109 |
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|
2,074,218 |
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|
1,774,609 |
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Net income attributable to common stockholders |
$ |
7,917,418 |
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|
$ |
3,148,029 |
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$ |
10,271,430 |
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$ |
6,497,157 |
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Weighted average shares - basic |
11,912,030 |
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|
9,523,753 |
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|
11,927,984 |
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|
9,423,758 |
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Basic earnings per share |
$ |
0.66 |
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|
$ |
0.33 |
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$ |
0.86 |
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$ |
0.69 |
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Net income attributable to common stockholders (from above) |
$ |
7,917,418 |
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$ |
3,148,029 |
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$ |
10,271,430 |
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$ |
6,497,157 |
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Add: After tax effect of convertible interest (1)
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2,181,958 |
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|
44,722 |
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— |
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|
44,722 |
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Income attributable for dilutive securities |
$ |
10,099,376 |
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$ |
3,192,751 |
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$ |
10,271,430 |
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$ |
6,541,879 |
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Weighted average shares - diluted |
15,383,892 |
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|
9,863,413 |
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|
11,927,984 |
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|
9,594,526 |
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Diluted earnings per share |
$ |
0.66 |
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$ |
0.32 |
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$ |
0.86 |
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$ |
0.68 |
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(1) The amounts in this line included with interest are the amortization of deferred costs and the amortization of the discount on the Convertible Notes. There is no income tax effect due to the fact that CorEnergy is a REIT. |
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