| 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, |
|
2019 |
|
2018 |
|
2017 |
Net Income attributable to CorEnergy Stockholders |
$ |
4,079,495 |
|
|
$ |
43,711,876 |
|
|
$ |
32,602,790 |
|
Less: preferred dividend requirements(1) (2)
|
9,255,468 |
|
|
9,548,377 |
|
|
7,953,988 |
|
Net Income (Loss) attributable to Common Stockholders |
$ |
(5,175,973 |
) |
|
$ |
34,163,499 |
|
|
$ |
24,648,802 |
|
Weighted average shares - basic |
13,041,613 |
|
|
11,935,021 |
|
|
11,900,516 |
|
Basic earnings (loss) per share |
$ |
(0.40 |
) |
|
$ |
2.86 |
|
|
$ |
2.07 |
|
|
|
|
|
|
|
Net Income (Loss) attributable to Common Stockholders (from above) |
$ |
(5,175,973 |
) |
|
$ |
34,163,499 |
|
|
$ |
24,648,802 |
|
Add: After tax effect of convertible interest |
— |
|
|
8,766,306 |
|
|
— |
|
Income (Loss) attributable for dilutive securities |
$ |
(5,175,973 |
) |
|
$ |
42,929,805 |
|
|
$ |
24,648,802 |
|
Weighted average shares - diluted |
13,041,613 |
|
|
15,389,180 |
|
|
11,900,516 |
|
Diluted earnings (loss) per share |
$ |
(0.40 |
) |
|
$ |
2.79 |
|
|
$ |
2.07 |
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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. |
(2) In connection with the repurchases of Series A Preferred Stock during the year ended December 31, 2019, preferred dividend requirements were increased by $245 representing the premium in the repurchase price paid compared to the carrying amount derecognized. |
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