CorEnergy Infrastructure Trust, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Share

Earnings Per Share

3 Months Ended

Mar. 31, 2019

Basic earnings per share data is computed based on the weighted-average number of shares of common stock outstanding during the periods. Diluted EPS data is computed based on the weighted-average number of shares of common stock outstanding, including all potentially issuable shares of common stock. Diluted EPS for the three months ended March 31, 2019 and 2018 excludes the impact to income and the number of shares outstanding from the conversion of the 7.00% Convertible Senior Notes because such impact is antidilutive. Under the if converted method, and after consideration of the common shares issued in the Convertible Note exchange discussed in Note 10 ("Debt"), the 7.00% Convertible Senior Notes would result in an additional 2,126,545 common shares outstanding for the three months ended March 31, 2019. For the three months ended March 31, 2018, the if-converted method would have resulted in an additional 3,454,545 common shares outstanding.



	For the Three Months Ended
	March 31, 2019		March 31, 2018
Net income attributable to CorEnergy stockholders	$	3,866,441	$	7,707,708
Less: preferred dividend requirements	2,314,128		2,396,875
Net income attributable to common stockholders	$	1,552,313	$	5,310,833
Weighted average shares - basic	12,604,943		11,918,904
Basic earnings per share	$	0.12	$	0.45

Net income attributable to common stockholders (from above)	$	1,552,313	$	5,310,833
Add: After tax effect of convertible interest	—		—
Income attributable for dilutive securities	$	1,552,313	$	5,310,833
Weighted average shares - diluted	12,604,943		11,918,904
Diluted earnings per share	$	0.12	$	0.45