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Corrections Corporation of America Message Board

  • flipper_58 flipper_58 Apr 2, 1999 7:43 AM Flag

    New Dividend numbers

    Assuming PZN STAYS at a present 12.50%
    yield($2.20/$17.50) New money will receive 23.7% for ONE YEAR. ($.15
    special div paid in the next 3 quarters+ $1.80 special
    div in Dec.+ $2.20 regular div. over the next
    year.)

    Does PZN have the business to secure payment?...of
    course, look at the last 4-5 news
    announcements.

    Will dilution kill earnings? There is no dilution at
    their present lease rates till WAY below $10/share
    assuming blended financing of 1/3 equity to 2/3
    debt.

    Can they get financing?....they have an investment
    grade rating...CCA would have not been able to get
    that. Hong Kong Shanghi Bank has a very fat checkbook
    for equity.

    Will the IRS come down on
    them?.....maybe, but my guess the outcome(spin out the management
    business again) is not as bad as the stock is telling
    us.

    The bottom line with any business, financinally, is
    new business and margins. PZN delivers. Missing the
    forest through the trees it looks like to me. It's fine
    with me as I continue to add .

    Cheers.

 
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