Subsequent Events |
12 Months Ended |
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Dec. 31, 2016 | |
| 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:
Common Stock Dividend
On January 25, 2017, our Board of Directors declared the 2016 fourth quarter dividend of $0.75 per share for CorEnergy common stock. The dividend was paid on February 28, 2017, to shareholders of record on February 13, 2017.
Preferred Stock Dividend
On January 25, 2017, our Board of Directors also declared a cash dividend of $0.4609375 per depositary share for the Company’s 7.375% Series A Cumulative Redeemable Preferred Stock for the quarter ending December 31, 2016. The preferred stock dividend was paid on February 28, 2017, to shareholders of record on February 13, 2017.
MoGas Contract Amendment
Effective March 1, 2017, MoGas entered into a long-term firm transportation services agreement with its largest customer, Laclede Gas. The agreement, which amends a prior agreement, extends the termination date for Laclede’s existing firm transportation services agreement from October 31, 2017 to October 31, 2030. Tariff rates under the extended agreement will be discounted from the current rate of $12.385 per dekatherm per month to $6.386 per dekatherm per month beginning on November 1, 2018.
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- References No definition available.
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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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