U.S. Markets closed

Geo issues special dividend

The provider of management services to detention centers, medical facilities and treatment centers said it will pay a special dividend of $5.68 a share, totaling $350 mil, in connection with the company's planned '13 conversion to a real estate investment trust or REIT. The dividend will be paid Dec. 31. The company also approved the sale of its Geo Care business, which holds six managed care facility contracts, to a group of Geo managers for $36 mil. Shares of Geo (GEO), which has an IBD Composite Rating of 91, an EPS Rating of 78 and a Relative Strength Rating of 95, rose 1%.