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Subsequent Events
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6 Months Ended |
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Jun. 30, 2013
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| Subsequent Events [Abstract] | |
| SUBSEQUENT EVENTS |
SUBSEQUENT EVENTS
The Company performed an evaluation of subsequent events through the date of the issuance of these financial statements and determined that no additional items require recognition or disclosure, except for the following:
On May 29, 2013, the Board of Directors declared a quarterly dividend of $0.125 per share, payable on July 5, 2013 to shareholders of record on June 28, 2013. The dividend was recorded on our balance sheet as a liability as of June 30, 2013, and was paid to shareholders on July 5, 2013. The Company paid cash dividends in the amount of $2,988,879. Additionally, as part of the dividend reinvestment plan the Company issued 3,912 new shares of common stock.
The Board of Directors of the Company approved a new Management Agreement between the Company and Corridor InfraTrust Management, LLC (the "Manager"). That new agreement became effective as of July 1, 2013. The new agreement does not change in any respect the terms for determination or payment of compensation for the Manager, does not have a specific term, and will remain in place unless terminated by the Company or the Manager in the manner permitted pursuant to the agreement.
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- Details
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- Definition
The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. No definition available.
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