Corrections Corporation Of America Stock To Go Ex-dividend Tomorrow (CXW)

NEW YORK ( TheStreet) -- The ex-dividend date for Corrections Corporation of America (NYSE: CXW) is tomorrow, June 6, 2012. Owners of shares as of market close today will be eligible for a dividend of 20 cents per share. At a price of $24.96 as of 9:30 a.m. ET, the dividend yield is 3.1%.

The average volume for Corrections Corporation of America has been 1.7 million shares per day over the past 30 days. Corrections Corporation of America has a market cap of $2.52 billion and is part of the services sector and diversified services industry. Shares are up 23.8% year to date as of the close of trading on Monday.

Corrections Corporation of America, together with its subsidiaries, owns and operates privatized correctional and detention facilities in the United States. The company has a P/E ratio of 16.9, equal to the average diversified services industry P/E ratio and below the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates Corrections Corporation of America as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, reasonable valuation levels and solid stock price performance. We feel these strengths outweigh the fact that the company has had sub par growth in net income. You can view the full Corrections Corporation of America Ratings Report.

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