The GEO Group, Inc. (NYSE:GEO) ("GEO") announced that on November 1, 2013, its Board of Directors declared a quarterly cash dividend of $0.55 per share which will be paid on November 26, 2013 to shareholders of record as of the close of business on November 14, 2013.
George C. Zoley, Chairman and Chief Executive Officer of GEO, said: “We are very pleased to declare our quarterly cash dividend of $0.55 per share, or $2.20 per share annually, which represents a ten percent increase from our previous regular dividend and is indicative of our company’s continued growth and commitment to return value to our shareholders.”
The GEO Group, Inc. (NYSE: GEO) is the first fully integrated equity real estate investment trust specializing in the design, financing, development, and operation of correctional, detention, and community reentry facilities around the globe. GEO is the world's leading provider of diversified correctional, detention, and community reentry services to government agencies worldwide with operations in the United States, Australia, South Africa, and the United Kingdom. GEO's worldwide operations include the ownership and/or management of 96 facilities totaling approximately 73,000 beds with a growing workforce of approximately 18,000 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) risks associated with
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; (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.
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