The GEO Group Declares Quarterly Cash Dividend of $0.25 Per Share
January 15 2021 - 6:55AM
Business Wire
The GEO Group, Inc. (NYSE: GEO) ("GEO") announced that on
January 15, 2021, its Board of Directors declared a quarterly cash
dividend of $0.25 per share. The quarterly cash dividend will be
paid on February 1, 2021 to shareholders of record as of the close
of business on January 25, 2021.
George C. Zoley, Chairman and Chief Executive Officer of GEO,
said, “We have announced today a reduction of our quarterly
dividend payment to accelerate our focus on paying down debt. We
believe the dividend announced today represents a sustainable
distribution to our shareholders given our current environment. We
believe that our new quarterly dividend payment will allow GEO to
balance our continued creation of value for our shareholders with
prudent management of our balance sheet.”
The GEO Group (NYSE: GEO) is a
fully integrated equity real estate investment trust specializing
in the design, financing, development, and operation of secure
facilities, processing centers, and community reentry centers in
the United States, Australia, South Africa, and the United Kingdom.
GEO is a leading provider of enhanced in-custody rehabilitation,
post-release support, electronic monitoring, and community-based
programs. GEO’s worldwide operations include the ownership and/or
management of 123 facilities totaling approximately 93,000 beds,
including projects under development, with a workforce of
approximately 23,000 professionals.
This press release contains forward-looking statements regarding
future events and the future performance of GEO that involve risks
and uncertainties that could materially affect actual results,
including statements regarding the timing and amount of dividends.
Factors that could cause actual results to vary from current
expectations and forward-looking statements contained in this press
release include, but are not limited to: (1) GEO’s ability to
declare future quarterly cash dividends and the timing and amount
of such future dividends; (2) GEO’s ability to successfully pursue
further growth and continue to enhance shareholder value; (3) GEO’s
ability to access the capital markets in the future on satisfactory
terms or at all; (4) GEO’s ability to control operating costs
associated with contract start-ups; (5) GEO’s ability to timely
open facilities as planned, profitably manage such facilities and
successfully integrate such facilities into GEO’s operations
without substantial costs; (6) GEO’s ability to win management
contracts for which it has submitted proposals and to retain
existing management contracts; (7) GEO’s ability to obtain future
financing on acceptable terms or at all; (8) GEO’s ability to
sustain company-wide occupancy rates at its facilities; and (9)
other factors contained in GEO’s Securities and Exchange Commission
filings, including its Form 10-K, 10-Q and 8-K reports.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20210115005053/en/
Pablo E. Paez 1-866-301-4436 Executive Vice President, Corporate
Relations
Geo (NYSE:GEO)
Historical Stock Chart
From Mar 2024 to Apr 2024
Geo (NYSE:GEO)
Historical Stock Chart
From Apr 2023 to Apr 2024