The GEO Group Declares Quarterly Cash Dividend of $0.20 Per Share
BOCA RATON, Fla. -- November 05, 2012
The GEO Group, Inc. (NYSE:GEO) ("GEO") announced that on October 31, 2012, its
Board of Directors declared a quarterly cash dividend of $0.20 per share which
will be paid on November 30, 2012 to shareholders of record as of the close of
business on November 16, 2012.
George C. Zoley, Chairman and Chief Executive Officer of GEO, said: “We
believe that our dividend policy with quarterly cash dividends of $0.20 per
share, or $0.80 per share annually, is indicative of our long-term view that
we can meaningfully return value to our shareholders while continuing to
deleverage and pursue quality earnings growth.”
The GEO Group, Inc. is the world’s leading diversified provider of
correctional, detention, and residential treatment services to federal, state,
and local government agencies around the globe. GEO offers a turnkey approach
that includes design, construction, financing, and operations. GEO represents
government clients in the United States, Australia, South Africa, and the
United Kingdom. GEO’s worldwide operations include 20,000 employees, 108
correctional, detention and residential treatment facilities, including
projects under development, and 75,000 owned and/or managed beds.
This press release contains forward-looking statements regarding future events
and 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; (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 the forms 10-K, 10-Q and 8-K reports.
The GEO Group, Inc.
Pablo E. Paez, 1-866-301-4436
Vice President, Corporate Relations
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