Power REIT (NYSEMKT:PW) Files An 8-K Other Events
Item 8.01 Litigation Update
As previously disclosed in its public filings with the SEC, Power
REIT and its wholly-owned subsidiary Pittsburgh West Virginia
Railroad (PWV) have been engaged in litigation with Norfolk
Southern Corporation (NSC) and NSCs sub-lessee, Wheeling Lake
Erie Railroad (WLE and, together with NSC, the Litigants)
concerning matters arising under the Railroad Lease between PWV
and NSC. The case has been pending in Federal district court in
Pittsburgh, Pennsylvania (the Court).
As previously disclosed, Power REIT and PWV have filed an Appeal
to appeal the matter to the United States Court of Appeals for
the Third Circuit. The Court of Appeals has set a date for a
potential oral argument on January 16, 2017.
PWV has provided key court filings (including the court filing
referenced herein) in the litigation on Power REITs website
(www.pwreit.com) under a tab called PWV Litigation Update which
is under the Investor Relations tab. The provided documents and
accompanying supporting documents are not comprehensive or
complete and the full case docket is available from the Public
Access to Court Records (PACER) website. Power REIT encourages
interested parties to review all the public filings available on
PACER and to review the risks and disclosures in Power REITs
Annual Report filed on Form 10-k and other documents filed from
time to time with the Securities and Exchange Commission (SEC).
Item 8.01 Declaration of Dividend
On November 28, 2016, 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 December 15, 2016, to shareholders of record on
December 8, 2016.
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. Power REIT (NYSEMKT:PW) Recent Trading Information
Power REIT (NYSEMKT:PW) closed its last trading session down -0.31 at 7.72 with shares trading hands.