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The GEO Group, Inc. Message Board

  • low_mac low_mac Apr 9, 2013 1:11 PM Flag

    CCA to Pay Special Dividend

    The planned transformation of Corrections Corporation of America (NYSE: CXW ) has produced an early reward for shareholders. The company has announced that it will hand out a special dividend of $6.63 per share of its common stock. It expects the disbursement to be made on May 20 to shareholders of record as of April 19.

    The dividend is being paid as a precursor to CCA's transformation into a real estate investment trust or REIT, which requires the company to distribute its undistributed earnings and profits before this year.

    The special dividend yields 17.5% at CCA's current stock price of $37.97

29.32-0.36(-1.21%)Nov 30 4:04 PMEST