Power REIT Form 8-K Summary
Business Context and Reporting Period
This Current Report on Form 8-K was filed by Power REIT on April 12, 2016. The filing reports corporate governance events, specifically the declaration of a preferred stock dividend and the scheduling of the 2016 annual meeting of shareholders.
Key Financial Metrics
The filing does not provide comprehensive financial statements, revenue, profit, cash flow, or debt metrics. The only specific financial data disclosed is the declaration of a quarterly dividend of $0.48375 per share on the 7.75% Series A Cumulative Redeemable Perpetual Preferred Stock.
Material Changes and Corporate Events
- Dividend Declaration: A quarterly dividend of $0.48375 per share was declared on the 7.75% Series A Preferred Stock. The payment date is June 15, 2016, with a record date of May 15, 2016.
- Annual Meeting: The 2016 annual meeting of shareholders is scheduled for June 13, 2016.
- Record Date: The record date for determining voting eligibility for the annual meeting is set as the close of business on April 25, 2015.
Guidance, Outlook, and Risks
The filing contains no management commentary, forward-looking guidance, risk factors, or discussion of contingencies. It is a procedural report regarding shareholder communications and dividend obligations.
Key Facts for Investor Verification
- Verify the record date of April 25, 2015, for the annual meeting, as this date precedes the filing date and the meeting date.
- Confirm the dividend payment date of June 15, 2016, for the Series A Preferred Stock.
- Note that proxy materials will be sent separately to shareholders of record.