| Computation of basic and diluted earnings per share |
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, 2018 and 2017 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. If converted, the 7.00% Convertible Senior Notes would result in an additional 3,454,545 common shares outstanding.
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For the Three Months Ended |
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For the Six Months Ended |
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June 30, 2018 |
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June 30, 2017 |
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June 30, 2018 |
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June 30, 2017 |
Net income attributable to CorEnergy stockholders |
$ |
7,810,849 |
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$ |
9,000,172 |
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$ |
15,518,557 |
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$ |
16,669,650 |
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Less: preferred dividend requirements |
2,396,875 |
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2,123,129 |
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4,793,750 |
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3,160,238 |
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Net income attributable to common stockholders |
$ |
5,413,974 |
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$ |
6,877,043 |
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$ |
10,724,807 |
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$ |
13,509,412 |
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Weighted average shares - basic |
11,928,297 |
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11,896,616 |
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11,923,627 |
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11,892,670 |
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Basic earnings per share |
$ |
0.45 |
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$ |
0.58 |
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$ |
0.90 |
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$ |
1.14 |
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Net income attributable to common stockholders (from above) |
$ |
5,413,974 |
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$ |
6,877,043 |
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$ |
10,724,807 |
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$ |
13,509,412 |
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Add: After tax effect of convertible interest |
— |
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— |
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— |
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— |
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Income attributable for dilutive securities |
$ |
5,413,974 |
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$ |
6,877,043 |
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$ |
10,724,807 |
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$ |
13,509,412 |
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Weighted average shares - diluted |
11,928,297 |
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11,896,616 |
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11,923,627 |
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11,892,670 |
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Diluted earnings per share |
$ |
0.45 |
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$ |
0.58 |
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$ |
0.90 |
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$ |
1.14 |
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