XML 30 R19.htm IDEA: XBRL DOCUMENT v3.8.0.1
Note 12 - Subsequent Events
9 Months Ended
Sep. 30, 2017
Notes to Financial Statements  
Subsequent Events [Text Block]
NOTE
12
— SUBSEQUENT EVENTS
 
Cash dividend
 
On
November 7, 2017,
the Board declared, approved and authorized payment of a quarterly dividend of
$4.0
million (
$0.08
per share) to all holders of the Company
’s issued and outstanding shares of common stock on
November 21, 2017,
payable on
December 5, 2017.
 
OPC buyout
 
On
May 31, 2017,
the Company
’s partners JPM and Morgan Stanley achieved their target after-tax yield on its investment in OPC, LLC (“OPC”) and on
October 31, 2017,
Ormat Nevada purchased all of the Class B membership units in OPC from JPM and Morgan Stanley for
$1.9
million. As a result, Ormat Nevada is now the sole owner of all of the economic and voting interests in OPC and continues to consolidate OPC in its financial statements.