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Corrections Corporation of America Message Board

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  • newMK newMK Aug 2, 1999 9:21 PM Flag

    d%&$** unions

    Seems like it, but maybe not. The info I gave you
    is based on the 3/31 CC, and I've never tried
    reconciling it to the balance sheet. But back then (see post
    1188), it appeared that the .05 first quarter special
    dividend was charged to "Distributions Payable", while the
    excess included in the .55 operating dividend was not
    (assuming Q1 E&P was approximately equal to net income for
    book purposes). Don't ask me why - perhaps because E&P
    is calculated on an annual basis. Or maybe Doc
    goofed on the numbers again (but I doubt
    it).

    Apparently it is not uncommon for 95% of a REIT's taxable
    income to exceed its E&P, so that shareholders report
    part of the distribution as return of capital. That
    won't happen for PZN this year because the excess will
    come out of accumulated E&P.

 
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