Power REIT (NYSEMKT:PW) Files An 8-K Other Events
Item 8.01 Stock Buyback
On January 23, 2017, the Registrant announces that the board of
directors has authorized the purchase by the Company of up to
$750,000 worth of shares of the Companys outstanding common
stock, from time-to-time in the open market. Purchases will be
made depending on then-current market and economic considerations
and the Companys view of its stock trading price, and subject to
compliance with applicable legal requirements. Any such purchase
activity, including the number of any shares purchased and their
average price will be disclosed in subsequent public filings.
Item 8.01 Declaration of Dividend
On January 23, 2017, the Registrant announces that it has
declared a quarterly dividend of $0.48375 per share on Power
REITs 7.75% Series A Cumulative Redeemable Perpetual Preferred
Stock payable on March 15, 2017, to shareholders of record on
February 15, 2017.
About Power REIT (NYSEMKT:PW)
Power REIT is a real estate investment trust (REIT) that holds, develops, acquires and manages real estate assets related to transportation and energy infrastructure in the United States. The Company, within the transportation and energy infrastructure sectors, is focused on making new acquisitions of real estate that are or will be leased to renewable energy generation projects, such as utility-scale solar farms and wind farms. It is structured as a holding company and owns its assets through its subsidiaries. Its assets include approximately 112 miles of railroad infrastructure and related real estate, which is owned by its subsidiary Pittsburgh & West Virginia Railroad (P&WV) and approximately 601 acres of fee simple land leased to a range of solar power generating projects with an aggregate generating capacity of approximately 108 Megawatts (MW). It is engaged in expanding its portfolio of real estate related to renewable energy generation projects.
