CoreCivic (CXW) Declares $0.42 Quarterly Dividend; 8.3% Yield

CoreCivic (NYSE: CXW) declared a quarterly dividend of $0.42 per share, or $1.68 annualized.

The dividend will be payable on January 13, 2017, to stockholders of record on January 3, 2017, with an ex-dividend date of December 29, 2016.

The annual yield on the dividend is 8.3 percent.

Damon Hininger, CoreCivic's President and Chief Executive Officer, stated, "We believe our updated dividend level appropriately reflects the current cash flows of the business following the renegotiation in October of the South Texas Family Residential Center contract with Immigration and Customs Enforcement. We also believe maintaining our targeted payout ratio of approximately 80 percent of AFFO per share, or approximately 75 percent of Normalized FFO per share, demonstrates our confidence in the business and provides sufficient flexibility for the Company to effectively compete for the numerous growth opportunities requiring the deployment of capital that we see in the market."

For a dividend history and other dividend-related data on CoreCivic (CXW) click here.

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