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Corrections Corporation of America Message Board

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  • mecosmo2 mecosmo2 Sep 4, 1999 9:57 AM Flag

    Felons and Prison Guards

    Lowering the requirement to 90% could add between
    7-11 million for expansion( my guesstimate) I have
    emailed PZN for confirmation of possible gain. The
    requirement will be that they must distribute to shareholders
    90% of TAXABLE INCOME to qualify as a REIT.


    EXCERPT.... LIQUIDITY AND CAPITAL RESOURCES.

    The
    Company's growth strategy includes acquiring, developing
    and expanding correctional and detention facilities
    as well as other properties. The Company expects
    that it generally will not be able to fund its growth
    with cash from its operating activities because the
    Company will be required to distribute to its
    stockholders at least>>> 95% of its taxable income
    each year to qualify as a REIT. Consequently, the
    Company will be required to rely primarily upon the
    availability of debt or equity capital to fund the
    construction and acquisitions of and improvements to
    correctional and detention facilities.

 
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