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Stock Market & Financial Investment News

News Breaks
December 28, 2012
08:32 EDTGEOGeo Group announces election results for $350M special dividend
The GEO Group announced the results of the elections made by shareholders of GEO as to the form of distribution they wish to receive in connection with GEO’s previously announced special dividend of $352,206,508, or $5.68 per share of common stock, which will be paid on December 31 to shareholders of record as of December 12. As of December 12 there were approximately 62,008,188 shares of GEO common stock outstanding. The results of elections made by GEO shareholders are as follows: 10,560,240 shares of GEO common stock (approximately 17% of the outstanding shares of GEO common stock) elected to receive GEO common stock. 39,627,351 shares of GEO common stock (approximately 64% of the outstanding shares of GEO common stock) elected to receive cash. Pursuant to GEO’s previously announced special dividend terms, GEO will issue approximately 9,687,161 shares of GEO common stock based on an average opening price per share of GEO common stock on the New York Stock Exchange of $28.32 on December 26 and December 27, the two trading days following the election deadline of December 24.
News For GEO From The Last 14 Days
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July 6, 2015
08:48 EDTGEOGEO Group activates company-owned facilities in Oklahoma, Michigan, California
The GEO Group announced the activation of three company-owned facilities totaling 4,320 beds in Oklahoma, Michigan, and California. In early June 2015, GEO began the intake of offenders at the 1,940-bed Great Plains Correctional Facility in Hinton, Oklahoma under a 10-year contract with the Federal Bureau of Prisons. In late June 2015, GEO also began the intake of inmates from the State of Vermont at the 1,740-bed North Lake Correctional Facility in Baldwin, Michigan under a five-year agreement with the Vermont Department of Corrections. Under the contract, GEO will provide comprehensive correctional management services, including the provision of industry-leading, evidence-based offender rehabilitation programs under the ‘GEO Continuum of Care.’ On July 1, 2015, GEO activated a 640-bed expansion and began the intake process at the Adelanto Detention Facility in Adelanto, California under the existing contractual structure with the City of Adelanto and U.S. Immigration and Customs Enforcement.

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