CorEnergy Declares Common and Preferred Dividends, Schedules Results Release for First Quarter 2021

Rhea-AI Summary

CorEnergy Infrastructure Trust (NYSE: CORR, CORRPrA) announced its first-quarter 2021 dividend of $0.05 per share, unchanged from the prior quarter, payable on May 28, 2021, to shareholders of record by May 14, 2021. Additionally, a cash dividend of $0.4609375 per share for its 7.375% Series A Preferred Stock will also be paid on the same date. The Company has reinstated its Dividend Reinvestment Plan (DRIP), allowing for the resumption of operations following clearance from the SEC. Earnings results for Q1 2021 will be reported on May 10, 2021.

Positive

• Consistent quarterly dividend of $0.05 per share supports shareholder income.
• The reinstatement of the Dividend Reinvestment Plan (DRIP) shows company confidence in future performance.
• The cash dividend of $0.4609375 per depositary share for Series A Preferred enhances investor returns.

Negative

• None.

CorEnergy Infrastructure Trust, Inc. (NYSE: CORR, CORRPrA) ("CorEnergy" or the "Company") announced today that its Board of Directors declared a first quarter 2021 dividend of $0.05 per share for its common stock, consistent with the preceding quarter. The dividend is payable on May 28, 2021, to shareholders of record on May 14, 2021.

The 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. The preferred stock dividend, which equates to an annual dividend payment of $1.84375 per depositary share, is payable on May 28, 2021, to shareholders of record on May 14, 2021.

The Company's Board of Directors also authorized the reinstatement of the operation of the Company's Dividend Reinvestment Plan ("DRIP"). The Board of Directors made this determination in light of the fact that the staff of the Securities and Exchange Commission has advised the Company that we can resume the use of our previously filed and effective shelf registration statements.

Additionally, the Company's Board of Directors authorized the declaration of dividends on the Company's 4.00% Series B Redeemable Convertible Preferred Securities ("Series B Preferred") and shares of the Company's 9.00% Series C Exchangeable Preferred Securities ("Series C Preferred") as if they had been outstanding, in accordance with the terms of the Crimson Midstream Holdings, LLC Agreement.

First Quarter 2021 Results Release Date

The Company also announced today that it will report earnings results for its first quarter, ended March 31, 2021, on May 10, 2021.

CorEnergy will host a conference call on Tuesday, May 11, 2021, at 2:00 p.m. Central Time to discuss its financial results. Please dial into the call at +1-201-689-8035 at least five minutes prior to the scheduled start time. The call will also be webcast in a listen-only format. A link to the webcast will be accessible at corenergy.reit.

A replay of the call will be available until 2:00 p.m. Central Time on June 11, 2021, by dialing +1-919-882-2331. The Conference ID is 40739. A replay of the conference call will also be available on the Company’s website.

About CorEnergy Infrastructure Trust, Inc.

CorEnergy Infrastructure Trust, Inc. (NYSE: CORR, CORRPrA) is a real estate investment trust that owns and operates or leases regulated natural gas transmission and distribution and crude oil gathering, storage and transmission pipelines and associated rights-of-way. For more information, please visit corenergy.reit.

Forward-Looking Statements

This press release contains certain statements that may include "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical fact, included herein are "forward-looking statements." Although CorEnergy believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in CorEnergy's reports that are filed with the Securities and Exchange Commission. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Other than as required by law, CorEnergy does not assume a duty to update any forward-looking statement. In particular, any distribution paid in the future to our stockholders will depend on the actual performance of CorEnergy, its costs of leverage and other operating expenses and will be subject to the approval of CorEnergy's Board of Directors and compliance with leverage covenants.

Source: CorEnergy Infrastructure Trust, Inc.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210429006187/en/

FAQ

What is the dividend amount declared by CorEnergy for Q1 2021?

CorEnergy declared a dividend of $0.05 per share for its common stock for Q1 2021.

When is the payment date for CorEnergy's Q1 2021 dividend?

The dividend is payable on May 28, 2021.

What is the cash dividend for CorEnergy's Series A Preferred Stock?

The cash dividend for the 7.375% Series A Cumulative Redeemable Preferred Stock is $0.4609375 per depositary share.

When will CorEnergy report its first-quarter earnings for 2021?

CorEnergy will report its earnings results on May 10, 2021.

What is the significance of the Dividend Reinvestment Plan (DRIP) for shareholders?

The reinstatement of the DRIP allows shareholders to reinvest dividends, indicating the company's confidence in future stability and growth.