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Stock Market & Financial Investment News

News Breaks
February 7, 2013
17:48 EDTCXWCorrections Corp. to declare $650M-$700M special dividend
In order to comply with REIT rules, CCA's board plans to declare a special one-time dividend to distribute earnings and profits accumulated prior to our REIT election of approximately $650M-$700M during 2013. The company intends to pay the dividend with a combination of approximately 20% cash and 80% common stock. The company estimates it will incur approximately $25M in one-time conversion expenses, excluding any costs associated with issuing new debt, refinancing existing debt or modifying existing debt agreements. We also expect to record a one-time income tax benefit of $115M to $135M in 2013 as a result of the reversal of certain net deferred tax liabilities.
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February 26, 2015
11:52 EDTCXWCorrections Corp. management to meet with CRT Capital
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February 25, 2015
07:46 EDTCXWCorrections Corp. Chairman to retire in 2016
Corrections Corporation of America announced that chairman, John Ferguson, has informed the company of his decision to retire from the board and not stand for re-election at the annual meeting of the company's stockholders in 2016. Ferguson, who will stand for re-election at the company's May 14, 2015 annual meeting of stockholders, plans to continue to serve as chairman to allow an orderly transition and provide the necessary time to consider a successor.
February 20, 2015
16:06 EDTCXWCorrections Corp. increases quarterly dividend 6%
Corrections Corporation of America announced that its board declared a quarterly dividend of 54c per share to be paid on April 15 to shareholders of record as of the close of business on April 2. CCA CEO Damon Hininger said, "We are pleased to declare our quarterly cash dividend of 54c per share, or $2.16 per share annually, which represents a 6% increase and reflects the overall strength of our business and our commitment to return value to our stockholders."

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