CCA Declares Quarterly Cash Dividend of $0.51 per Share
May 15 2014 - 4:15PM
Marketwired
CCA Declares Quarterly Cash Dividend of $0.51 per Share
NASHVILLE, TN--(Marketwired - May 15, 2014) - CCA (NYSE: CXW)
(the "Company" or "Corrections Corporation of America"), America's
largest owner of partnership correctional and detention facilities,
announced today that its Board of Directors declared a quarterly
dividend of $0.51 per share to be paid on July 15, 2014 to
shareholders of record as of the close of business on July 2,
2014.
About CCA CCA, a publicly traded real estate investment trust
(REIT), is the nation's largest owner of partnership correction and
detention facilities and one of the largest prison operators in the
United States, behind only the federal government and three states.
We currently own or control 52 correctional and detention
facilities and manage 13 additional facilities owned by our
government partners, with a total design capacity of approximately
86,500 beds in 20 states and the District of Columbia. CCA
specializes in owning, operating and managing prisons and other
correctional facilities and providing inmate residential, community
re-entry and prisoner transportation services for governmental
agencies. In addition to providing the fundamental residential
services relating to inmates, our facilities offer a variety of
rehabilitation and educational programs, including basic education,
faith-based services, life skills and employment training and
substance abuse treatment.
Forward-Looking Statements This press release contains
statements as to our beliefs and expectations of the outcome of
future events that are forward-looking statements as defined within
the meaning of the Private Securities Litigation Reform Act of
1995. These forward-looking statements are subject to risks and
uncertainties that could cause actual results to differ materially
from the statements made. These include, but are not limited to,
the risks and uncertainties associated with: (i) general economic
and market conditions, including the impact governmental budgets
can have on our per diem rates, occupancy, and overall utilization;
(ii) fluctuations in our operating results because of, among other
things, changes in occupancy levels, competition, increases in cost
of operations, fluctuations in interest rates and risks of
operations; (iii) our ability to obtain and maintain correctional
facility management contracts, including, but not limited to, as a
result of sufficient governmental appropriations, contract
compliance and as a result of inmate disturbances; (iv) changes in
the privatization of the corrections and detention industry, the
public acceptance of our services, the timing of the opening of and
demand for new prison facilities and the commencement of new
management contracts; (v) changes in governmental policy and in
legislation and regulation of the corrections and detention
industry that affect our business, including but not limited to,
the impact of a government shutdown, and California's continued
utilization of out of state private correctional capacity; (vi) our
ability to meet and maintain REIT qualification tests; and (vii)
increases in costs to construct or expand correctional facilities
that exceed original estimates, or the inability to complete such
projects on schedule as a result of various factors, many of which
are beyond our control, such as weather, labor conditions and
material shortages, resulting in increased construction costs.
Other factors that could cause operating and financial results to
differ are described in the filings made from time to time by us
with the Securities and Exchange Commission.
CCA takes no responsibility for updating the information
contained in this press release following the date hereof to
reflect events or circumstances occurring after the date hereof or
the occurrence of unanticipated events or for any changes or
modifications made to this press release.
Contact: Investors and Analysts: Karin Demler CCA (615) 263-3005
Financial Media: Dave Gutierrez Dresner Corporate Services (312)
780-7204
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