| Computation of basic and diluted earnings per share |
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Earnings Per Share |
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For the Years Ended December 31, |
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2018 |
|
2017 |
|
2016 |
Net income attributable to CorEnergy stockholders |
$ |
43,711,876 |
|
|
$ |
32,602,790 |
|
|
$ |
29,663,200 |
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Less: preferred dividend requirements(1)
|
9,548,377 |
|
|
7,953,988 |
|
|
4,148,437 |
|
Net income attributable to common stockholders |
$ |
34,163,499 |
|
|
$ |
24,648,802 |
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|
$ |
25,514,763 |
|
Weighted average shares - basic |
11,935,021 |
|
|
11,900,516 |
|
|
11,901,985 |
|
Basic earnings per share |
$ |
2.86 |
|
|
$ |
2.07 |
|
|
$ |
2.14 |
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|
|
|
|
|
Net income attributable to common stockholders (from above) |
$ |
34,163,499 |
|
|
$ |
24,648,802 |
|
|
$ |
25,514,763 |
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Add: After tax effect of convertible interest |
8,766,306 |
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|
— |
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|
— |
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Income attributable for dilutive securities |
$ |
42,929,805 |
|
|
$ |
24,648,802 |
|
|
$ |
25,514,763 |
|
Weighted average shares - diluted |
15,389,180 |
|
|
11,900,516 |
|
|
11,901,985 |
|
Diluted earnings per share |
$ |
2.79 |
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|
$ |
2.07 |
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|
$ |
2.14 |
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(1) In connection with the repurchases of Series A Preferred Stock during the year ended December 31, 2018, preferred dividend requirements were reduced by $10,554 representing the discount in the repurchase price paid compared to the carrying amount derecognized. |
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