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CorEnergy Infrastructure Trust, Inc. (NYSE: CORR, CORRPrA) will participate in the Sidoti & Company Spring 2021 Virtual Conference on March 24-25, 2021. The company will present on March 24 at 10:45 am ET, accessible via webcast on their website. CEO Dave Schulte and CFO Robert Waldron will also hold one-on-one meetings with institutional investors. CorEnergy focuses on owning and operating natural gas and crude oil pipeline assets, enhancing their investment portfolio while navigating forward-looking challenges.
CorEnergy Infrastructure Trust (NYSE: CORR, CORRPrA) announced its fourth quarter and full year 2020 financial results, reporting a net loss attributable to common stockholders of $4.98 million ($0.36 per share) for Q4 and $315.26 million ($23.09 per share) for the year. The company declared a dividend of $0.05 per share for Q4 and $0.90 for the year. Notably, CorEnergy acquired Crimson Midstream for $350 million, expanding its pipeline operations in California. The outlook includes projected revenues of $130-$135 million for 2021 and a strategic focus on growth and diversification.
CorEnergy Infrastructure Trust has acquired Crimson Midstream Holdings for approximately $350 million. This acquisition includes four pipeline systems totaling about 1,800 miles across California, enhancing CorEnergy’s portfolio of regulated utility-like assets. The transaction is expected to generate an annualized EBITDA of $50-$52 million beginning in Q2 2021. The acquisition was funded through cash, equity issuances, and borrowings, aiming for financial flexibility. Additionally, CorEnergy plans to internalize its management, potentially reducing costs and aligning executive interests with shareholder value.
CorEnergy Infrastructure Trust (NYSE: CORR, CORR-PA) has declared a $0.05 per share dividend for its common stock, consistent with the prior quarter, payable on February 26, 2021. The 7.375% Series A Cumulative Redeemable Preferred Stock dividend is set at $0.4609375 per depositary share, equivalent to an annual payment of $1.84375, also payable on February 26, 2021. The company will report its fourth quarter 2020 earnings results on March 3, 2021, and will host a conference call on March 4, 2021 to discuss results.
CorEnergy Infrastructure Trust, Inc. (NYSE: CORR, CORRPrA) has detailed the tax characterization of distributions made to shareholders in 2020. The report highlights that common shareholders received total distributions of $0.9000 per share, and holders of the Series A Cumulative Redeemable Preferred Stock received $1.8436 per share. Notably, all distributions are characterized as nondividend distributions. The company advises shareholders to consult tax advisors for any tax-related inquiries. For further details, visit corenergy.reit.