And we’ve a very unique permanent feature in the business with the delta between our maintenance CapEx and depreciation amortization. And with such, we intend to allocate a third of our AFFO towards the dividend and two thirds or said in another way 100% of our net income towards new growth going forward. And we think that puts us in a very unique category for investment. Also for the quarter, we have some very exciting either start ups or transitions during quarter most notably in January, we transitioned to our new Lake Erie facility up in Ohio.Later in the quarter, we started our new contract with Puerto Rico by ramping up their inmate population in our Cimarron, Okalahoma facility. And most recently, we opened our new Jenkins county facility in Georgia for the State of Georgia the house inmates there. We also for the quarter closed on our new bank facility in January and also very excited about the terms and conditions of this new facility. But also allowing us to have more flexibilities we think about our debts strategy going forward.
Corrections Corporation Of America's CEO Discusses Q1 2012 Results - Earnings Call Transcript
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