Geo Group, Inc. (GEO) Declares $5.68 Special Dividend; 19.3% Yield
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GEO Group (GEO) Declares Special Dividend; Announces Restructuring, Asset Divestitures
December 6, 2012 4:13 PM ESTThe GEO Group, Inc. (NYSE: GEO) ("GEO") today announced that its Board of Directors (the "Board") has unanimously authorized GEO to take all necessary steps, including the divestiture of certain health care assets, that will prepare GEO to position itself to operate in compliance with the real estate investment trust ("REIT") rules of the Internal Revenue Code (the "REIT rules") beginning January 1, 2013. This decision follows a thorough analysis and careful consideration by GEO of ways to maximize shareholder value through alternative financing, capital and other strategies. While GEO has not received a private letter... More
