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

6 Months Ended

Jun. 30, 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 and six months ended June 30, 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 and subsequent conversions discussed in Note 10 ("Debt"), the 7.00% Convertible Senior Notes would result in an additional 2,108,848 common shares outstanding for the three and six months ended June 30, 2019. For the three and six months ended June 30, 2018, the if-converted method would have resulted in an additional 3,454,545 common shares outstanding.



	For the Three Months Ended				For the Six Months Ended
	June 30, 2019		June 30, 2018		June 30, 2019		June 30, 2018
Net income attributable to CorEnergy stockholders	$	9,824,926	$	7,810,849	$	13,691,367	$	15,518,557
Less: preferred dividend requirements	2,313,780		2,396,875		4,627,908		4,793,750
Net income attributable to common stockholders	$	7,511,146	$	5,413,974	$	9,063,459	$	10,724,807
Weighted average shares - basic	12,811,171		11,928,297		12,708,626		11,923,627
Basic earnings per share	$	0.59	$	0.45	$	0.71	$	0.90

Net income attributable to common stockholders (from above)	$	7,511,146	$	5,413,974	$	9,063,459	$	10,724,807
Add: After tax effect of convertible interest	—		—		—		—
Income attributable for dilutive securities	$	7,511,146	$	5,413,974	$	9,063,459	$	10,724,807
Weighted average shares - diluted	12,811,171		11,928,297		12,708,626		11,923,627
Diluted earnings per share	$	0.59	$	0.45	$	0.71	$	0.90