Dividend Event Disclosures

Rule function

These rules apply to the reporting of information related to a specific dividend event. The purpose of the rules is to get consistency of reporting and to support the Dividend guidance released.

The first component of the rule checks that dividend event elements are used with an appropriate axis. In most cases this will be the DividendsAxis. The rule checks that the following base axis are not used:

• AwardTypeAxis
• srt:TitleOfIndividualAxis
• srt:CurrencyAxis
• srt:RangeAxis
• srt:AwardDateAxis
• StatementEquityComponentsAxis
• FairValueByAssetClassAxis
• RelatedPartyTransactionsByRelatedPartyAxis
• SubsidiarySaleOfStockAxis
• DebtInstrumentAxis
• LongtermDebtTypeAxis

The rule also checks the following extension elemnts are not used:

• DividendDeclarationDateAxis
• DividendDeclaredAxis
• DividendsDeclaredTypeAxis
• DistributionsPaymentDateAxis

The filing includes a value for dividends using the concept us-gaap:DividendsPayableAmountPerShare with a value of 0.1594. This value is reported with the dimension us-gaap:AwardDateAxis. This dimension should not be used with the concept us-gaap:DividendsPayableAmountPerShare. Please check the filing and use the DividendsAxis with this value.

The properties of this fact are:
Period: 2022-03-31
Dimensions: us-gaap:AwardDateAxis=gne:JanuaryFourteenTwoThousandTwentyTwoMember, us-gaap:StatementClassOfStockAxis=us-gaap:SeriesAPreferredStockMember
Unit: USD/shares

Rule Element ID: 10139

The second component checks if the dates associated with a dividend event are consecutive. Specifically when dates are reported for the following three concepts the date value of each should be later or the same as the previous date:

• DividendsPayableDateDeclaredDayMonthAndYear
• DividendsPayableDateOfRecordDayMonthAndYear
• DividendPayableDateToBePaidDayMonthAndYear

The date reported for us-gaap:DividendsPayableDateOfRecordDayMonthAndYear of 2022-05-16 is greater than or equal to the date reported for us-gaap:DividendPayableDateToBePaidDayMonthAndYear of 2022-05-16. The value of us-gaap:DividendsPayableDateOfRecordDayMonthAndYear must be earlier than the date reported for us-gaap:DividendPayableDateToBePaidDayMonthAndYear.

The properties of us-gaap:DividendsPayableDateOfRecordDayMonthAndYear with a date of 2022-05-16 are:
Period: 2022-04-14 to 2022-04-14
Dimensions: us-gaap:StatementEquityComponentsAxis=us-gaap:PreferredStockMember

The properties of us-gaap:DividendPayableDateToBePaidDayMonthAndYear with a date of 2022-05-16 are:
Period: 2022-04-14 to 2022-04-14
Dimensions: us-gaap:StatementEquityComponentsAxis=us-gaap:PreferredStockMember

Rule Element ID: 10140

The third component checks if the value reported for CommonStockDividendsPerShareDeclared has used the correct scale. It is expected that these amounts will not be rounded to thousands or millions. The rule checks if the inline scale is greater than 0.

The concept CommonStockDividendsPerShareDeclared has been reported with a value of 230, with a inline-scale of 3. Generally the amount per share are not scaled when reported. This means the value in the XBRL report is overstated by the scale factor of 3.

The properties of us-gaap:CommonStockDividendsPerShareDeclared are:
Period: 2020-07-01 to 2021-03-31
Dimensions: Scale: 3

Rule Element ID: 10141

The fourth component checks an appropriate period context has been used for the elements CommonStockDividendsPerShareDeclared and PreferredStockDividendsPerShareDeclared. It is expected that these elements use a period context that represents a reporting period such as a quarter or a year. The rule identifies all the reporting periods in the instance and excludes any durations that appear less than 5 times in the instance, unless they are a 90 day quarter. If the context dates of the elements CommonStockDividendsPerShareDeclared and PreferredStockDividendsPerShareDeclared are in included in the frequencies that occur less than 5 times then an error is reported. This rule picks up those cases where the duration is one day, or any other period that does not align with the reporting periods in the document.

The dividend declared amount represents an expense and should be allocated to a period so that it can be compared to other per share metrics such as EPS which is aligned with a reporting period.

The concept us-gaap:CommonStockDividendsPerShareDeclared has been reported with a value of 0.25. This value is reported with a duration starting on 2022-02-02 and ending on 2022-02-03. This period does not align with the reporting periods of the report. Adjust the reporting period to reflect one of the following reporting durations 2021-09-25 to 2022-04-01, 2022-01-01 to 2022-04-01. This rule is flagging because the value reported for us-gaap:CommonStockDividendsPerShareDeclared is prior to the report year end and should have been expensed for a period. This period should be associated with this fact. This makes it possible to compare the value with similar metrics such as earnings per share. If the dates are used to separate two dividends within the same reporting period then the DividendsAxis should be used to separate the values.

The properties of us-gaap:CommonStockDividendsPerShareDeclared are:
Period: 2022-02-03 to 2022-02-03
Dimensions:

Rule Element ID: 10142

The fifth component checks where the filer has used the DividendsAxis with a specific member, but has used a concept multiple times on this axis and member with different period contexts. The DividendAxis should use discrete members to represent different dividend events. The same concept should not be used more than once with the same dividend member. This picks up those cases where the filer has defined members like Quarterly Dividend [Member]

The filing has used the DividendsAxis with the member UMH:DividendPaymentDateFourMember, but has used the concept us-gaap:DividendsPreferredStockCash multiple times on this axis with different period contexts. The concept us-gaap:DividendsPreferredStockCash has been used multiple times to capture the values 4,170,000 and 4,170,000 for the periods 2021-01-01 to 2021-12-31 and 2020-01-01 to 2020-12-31. The DividendAxis should use discrete members to represent different dividend events. The same concept should not be used more than once with the same dividend member UMH:DividendPaymentDateFourMember.

Rule Element ID: 10143

The sixth component checks if the element DividendsPayableAmountPerShare has a context date that is later than the payable date of the dividend. The element DividendsPayableAmountPerShare represents the amount of dividends payable at a given date. If the payment date associated with the dividend has passed then there cannot be an amount owed per share. In these cases the value of the context for DividendsPayableAmountPerShare should be changed to the declaration date or the value of DividendsPayableDateOfRecordDayMonthAndYear or DividendsPayableDateToBePaidMonthAndYear should be changed to reflect the date the dividend will be paid. If the element DividendsPayableDateToBePaidMonthAndYear is used it is assumed the payable date is the first of the month.

The element DividendsPayableAmountPerShare has a value of 0.3 at 2022-08-03. This represents the amount of dividends that are payable per share at 2022-08-03. However, the payment date associated with the dividend has passed. The payment date associated with the dividend is 2021-06-30. To resolve the issue the value of the context for DividendsPayableAmountPerShare should be changed to the declaration date or the value of DividendsPayableDateOfRecordDayMonthAndYear or DividendsPayableDateToBePaidMonthAndYear should be changed to reflect the date the dividend will be paid. If the payment date relates to a separate dividend distribution unrelated to DividendsPayableAmountPerShare then the value of 2021-06-30 should be reported using the DividendsAxis.

The properties of us-gaap:DividendsPayableAmountPerShare are:
Period: 2022-08-03
Dimensions:

Rule Element ID: 10144

The seventh component checks if the elements DividendsPayableDateDeclaredDayMonthAndYear,DividendsPayableDateOfRecordDayMonthAndYear,DividendPayableDateToBePaidDayMonthAndYear are used without the DividendsAxis. If they are then an error is reported. When reporting dividend dates in a filing the filer should use the DividendsAxis to associate dividend dates with the related dividend disclosures.

The eight component checks if the DividendMember extension element defined by the filer conforms to the syntax defined in the dividends guidance. This is as follows:

• The first character should be either an R or an S to represent a regular or special dividend.
• The next 4 characters should represent the year that the dividend is applicable. i.e. 2025
• The next one to two characters should represent the period the dividend applies to, such as Q1 for quarterly dividends, H2 for half year dividend or M3 for the 3rd monthly dividend. Allowable values are either Q1, Q2, Q3, Q4, H1, H2, M1, M2, M3 to M13. If it is an annual divided then the character A is required.
• If further disaggregation is needed addition alphabetic can be added after the period such as PreferredA
• The member name must conclude with the string Member.

The filing includes a member on the dividends axis called QuarterlyDividendMember. The DividendsAxis member should confirm to the following syntax.

• The first character should be either an R or an S to represent a regular or special dividend.
• The next 4 characters should represent the year that the dividend is applicable. i.e. 2025
• The next one to two characters should represent the period the dividend applies to, such as Q1 for quarterly dividends, H2 for half year dividend or M3 for the 3rd monthly dividend. Allowable values are either Q1, Q2, Q3, Q4, H1, H2, M1, M2, M3 to M13. If it is an annual divided then the character A is required.
• If further disaggregation is needed addition alphabetic can be added after the period such as PreferredA
• The member name must conclude with the string Member. The form is as follows [R or S],YEAR,PERIOD,Optional alpha characters, the string Member. So regular quarterly dividends for Q3 in 2025 would be as follows: R2025Q3Member. An annual dividend for 2026 would be R2026AMember. The dividend for the 3rd month of 2027 for pref stock G would be R2027M3PrefGMember.

The label of the member can include any additional details.

Problem solved by the rule

The rule identifies those cases where the filer has used the DividendsAxis inappropriately in the filing.

Rule element ID index

The rule element id is used to identify unique elements or combinations of elements tested in the rule.