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Corrections Corporation of America Message Board

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  • newMK newMK Nov 10, 1999 8:55 PM Flag

    PZN : quarterly

    Anyone know how they feel about the new Merrill relationship?

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    • I called PZN today a asked for Doc. Jr. promply
      called back. Special dividend has already paid $1.80 per
      share this year. Balance must be paid by Dec 31, 1999.
      The remaining regular dividend can be paid by Jan.
      31, 2000. This gives PZN a 30 day repreve. If all
      dividends are not paid by Jan 31, 2000 a surcharge penalty
      of 4% of unpaid dividend is assessed. I believe this
      penalty is payable to IRS but I'm not sure.

      Also
      JR. said that PZN legal counsel advised that there be
      no question and answer session as Merrill Lynch is
      working very hard on this project.

      Finally,
      Merrill Lynch beat out Lehman for the work.

      In
      conclusion, I was happy to receive a call back. I do believe
      they will finally get their act together.

 
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