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CorEnergy sells Portland, Joliet terminals to Zenith Energy for $61M

  • CorEnergy Infrastructure Trust (NYSE:CORR) says it sold its Portland Terminal facility and the remaining interest in the Joliet Terminal to Zenith Energy for $61M.
  • CEO and President Dave Schulte says rent payments CORR received on the Portland Terminal over the last five years plus the gain on the sale have provided a total annual return within the trust’s low to mid-teens target range for the type of asset.
  • CORR says it does not expect the sale to affect its ability to maintain its current quarterly dividend of $0.75/share.

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