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Corrections Corporation of America Message Board

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  • newMK newMK Aug 2, 1999 9:00 AM Flag

    d%&$** unions

    In the Q1 CC, Doc explained that in addition to
    the .05 quarterly distribution of CCA E&P, there was
    further quarterly distribution of CCA E&P due to the fact
    that the .55 operating dividend exceeded the quarterly
    E&P. This was expected to total $20MM for 1999. I
    think that may be the piece you're missing.

    Last
    year, a portion of the PZN regular dividend was treated
    as non-taxable return of capital, I believe. That
    was because the dividend exceeded current E&P and
    there was no accumulated E&P. Because of the merger,
    PZN now has accumulated E&P until it is all paid out,
    so such excess quarterly operating distributions
    will reduce the accumulated E&P also.

 
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