Subsequent Event and Dividends

9 Months Ended

Sep. 30, 2012

Subsequent event and dividends [Abstract]

Subsequent event and dividends

11. Subsequent event and dividends:

The Company has reached agreement with an unrelated person (the “Grantee”) to convey to the Grantee a permanent easement along a portion of its right of way in exchange for a payment by the Grantee of $2,625. The Company received proceeds, less related fees, in the amount of $2,605 in November 2012.

On October 31, 2012, the Company declared a dividend of $.04 per share on its outstanding Common Stock payable November 28, 2012 to shareholders of record on November 14, 2012.