| 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 Nine Months Ended |
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September 30, 2016 |
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September 30, 2015 |
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September 30, 2016 |
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September 30, 2015 |
Net income attributable to CorEnergy stockholders |
$ |
9,231,185 |
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|
$ |
427,219 |
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$ |
21,576,833 |
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$ |
8,698,985 |
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Less: preferred dividend requirements |
1,037,109 |
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|
1,037,109 |
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3,111,327 |
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2,811,718 |
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Net income attributable to common stockholders |
$ |
8,194,076 |
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$ |
(609,890 |
) |
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$ |
18,465,506 |
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$ |
5,887,267 |
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Weighted average shares - basic |
11,872,729 |
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|
11,924,148 |
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|
11,909,431 |
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|
10,266,380 |
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Basic earnings (loss) per share |
$ |
0.69 |
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$ |
(0.05 |
) |
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$ |
1.55 |
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$ |
0.57 |
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Net income attributable to common stockholders (from above) |
$ |
8,194,076 |
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$ |
(609,890 |
) |
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$ |
18,465,506 |
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$ |
5,887,267 |
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Add: After tax effect of convertible interest (1)
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2,214,097 |
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— |
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— |
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— |
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Income attributable for dilutive securities |
$ |
10,408,173 |
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$ |
(609,890 |
) |
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$ |
18,465,506 |
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$ |
5,887,267 |
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Weighted average shares - diluted |
15,327,274 |
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|
11,924,148 |
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|
11,909,431 |
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|
10,266,380 |
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Diluted earnings (loss) per share |
$ |
0.68 |
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$ |
(0.05 |
) |
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$ |
1.55 |
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$ |
0.57 |
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(1) The interest amounts in this line include the amortization of deferred costs and the amortization of the discount on the Convertible Notes. There is no income tax effect due to the Company's REIT status. |
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