SUBSEQUENT EVENTS |
6 Months Ended |
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Jun. 30, 2018 | |
| Subsequent Events [Abstract] | |
| SUBSEQUENT EVENTS |
SUBSEQUENT EVENTS
These Consolidated Financial Statements include a discussion of material events, if any, that have occurred subsequent to June 30, 2018 through the issuance of these Consolidated Financial Statements.
On July 20, 2018, the Company settled a legal dispute (see Note 13) for $7.4 million, with $5.2 million payable immediately and $2.2 million payable in six quarterly installments beginning in September 2018, with the final payment due in December 2019.
On July 31, 2018, the Company closed on the sale of a private golf property in Georgia for total proceeds of $3.5 million. The property had carrying value of $3.0 million resulting in an approximate gain on sale of $0.5 million, net of closing costs.
On August 2, 2018, the Company declared dividends of $0.609375, $0.503125 and $0.523438 per share on the 9.750% Series B, 8.050% Series C and 8.375% Series D preferred stock, respectively, for the period beginning August 1, 2018 and ending October 31, 2018. Dividends totaling $1.4 million will be paid on October 31, 2018 to stockholders of record on October 1, 2018.
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- References No definition available.
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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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