CCA to Pay Special Dividend

The planned transformation of Corrections Corporation of America has produced an early reward for shareholders. The company has announced that it will hand out a special dividend of $6.63 per share of its common stock. It expects the disbursement to be made on May 20 to shareholders of record as of April 19.

The dividend is being paid as a precursor to CCA's transformation into a real estate investment trust or REIT, which requires the company to distribute its undistributed earnings and profits before this year.

The special dividend yields 17.5% at CCA's current stock price of $37.97.http://finance.yahoo.com/q?s=CXW&ql=0 

The article CCA to Pay Special Dividend originally appeared on Fool.com.

Fool contributor Eric Volkman has no position in Corrections Corporation of America. The Motley Fool recommends Corrections Corporation of America. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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angela.ivy

CCA special dividend states that each shareholder will get the choice to choose how they want their payout. CCA states that 401k shareholders will have theirs put back into their 401K as stock. We were not sent election forms to choose. Are 401k employees excluded from special dividends. Any help would be apprecitated.

May 01 2013 at 11:33 AM Report abuse rate up rate down Reply