GEO - Dividend announcements

The GEO Group (NYSE:GEO) ("GEO") announced today that its Board of Directors (the "Board") has unanimously approved a plan to terminate its Real Estate Investment Trust ("REIT") election and become a taxable C corporation, effective for the fiscal year ending December 31, 2021. The decision stems from the Board's evaluation of GEO's corporate tax structure and REIT status, which was announced on April 7, 2021. The Board also voted unanimously to discontinue GEO's quarterly dividend. The change in corporate status from a REIT to a taxable C Corporation is expected to give GEO additional flexibility to allocate free cash flow towards reducing net recourse debt. GEO has made efforts to reduce

The GEO Group, Inc. (NYSE:GEO) ("GEO"), a fully integrated equity real estate investment trust ("REIT") and a leading provider of enhanced in-custody rehabilitation, post-release support, and community-based programs, reported today its financial results for the first quarter 2021 and updated its financial guidance for the full-year 2021. First Quarter 2021 Highlights Total revenues of $576.4 million Net Income Attributable to GEO of $50.5 million or $0.41 per diluted share 1Q21 results reflect $13.3 million pre-tax gain on real estate assets and $3.0 million pre-tax gain on the extinguishment of debt Adjusted Net Income of $0.28 per diluted share Net Operating Income of $152.3 m

BOCA RATON, Fla.--(BUSINESS WIRE)--The GEO Group, Inc. (NYSE: GEO) (“GEO”) announced today that its Board of Directors (the “Board”) has immediately suspended GEO’s quarterly dividend payments with the goal of maximizing the use of cash flows to repay debt, deleverage, and internally fund growth. GEO currently intends to maintain its corporate tax structure as a Real Estate Investment Trust (“REIT”), but the Board has determined to undertake an evaluation of GEO's structure as a REIT. The Board’s evaluation of the current corporate tax structure and GEO’s REIT status is expected to take into consideration, among other factors, potential changes to GEO’s financial operating performa

BOCA RATON, Fla.--(BUSINESS WIRE)--The GEO Group, Inc. (NYSE: GEO) (“GEO”) announced today that the U.S. Marshals Service (“USMS”) has notified GEO of a non-renewal of the contract for the company-owned, 222-bed Queens Detention Facility ending March 31, 2021. GEO has requested a contract extension from the USMS in order to provide for a proper transition. The potential non-renewal of the contract for the Queens Detention Facility, which generated approximately $19 million in annualized revenues, was not previously assumed in GEO’s current financial guidance for 2021. If the contract is not extended or renewed, GEO expects to market the Queens Detention Facility to other government

BOCA RATON, Fla.--(BUSINESS WIRE)--The GEO Group, Inc. (NYSE: GEO) (“GEO” or the “Company”) announced today that its wholly-owned subsidiary, GEO Corrections Holdings, Inc. (“GEOCH”), has closed its previously announced private offering of $230,000,000 aggregate principal amount of 6.50% exchangeable senior unsecured notes due 2026 (the “notes”), including $30,000,000 aggregate principal amount of notes sold pursuant to the exercise in full of the initial purchasers' over-allotment option to purchase additional notes. The notes are guaranteed by GEO and GEO’s subsidiaries that are guarantors under GEO’s senior credit facility and outstanding senior notes. The notes will mature on F

BOCA RATON, Fla.--(BUSINESS WIRE)--The GEO Group, Inc. (NYSE: GEO) (“GEO” or the “Company”) announced today the pricing of the offering by its wholly-owned subsidiary, GEO Corrections Holdings, Inc. (“GEOCH”) of $200,000,000 aggregate principal amount of 6.50% exchangeable senior unsecured notes due 2026 (the “notes”) in a private offering under the Securities Act of 1933, as amended (the “Securities Act”). The notes will be guaranteed by GEO and GEO’s subsidiaries that are guarantors under GEO’s senior credit facility and outstanding senior notes. GEOCH also granted to the initial purchasers of the notes an option to purchase up to an additional $30,000,000 aggregate principal amou

BOCA RATON, Fla.--(BUSINESS WIRE)--The GEO Group, Inc. (NYSE: GEO) (“GEO”), a fully integrated equity real estate investment trust (“REIT”) and a leading provider of enhanced in-custody rehabilitation, post-release support, and community-based programs, reported today its financial results for the fourth quarter and full-year 2020 and issued financial guidance for 2021. Fourth Quarter 2020 Highlights Total revenues of $578.1 million Net Income Attributable to GEO of $11.9 million or $0.09 per diluted share 4Q20 results reflect $21.1 million Goodwill impairment charge related to GEO’s reentry centers primarily due to COVID-19 Adjusted Net Income of $0.33 per diluted share

BOCA RATON, Fla.--(BUSINESS WIRE)--The GEO Group, Inc. (NYSE: GEO) ("GEO") announced today the tax treatment of its 2020 dividend distributions. The following table summarizes, for income tax purposes, the nature of distributions paid to shareholders, presented on a per share basis, during the calendar year ended December 31, 2020. Shareholders are encouraged to consult with their own tax advisors as to their specific tax treatment of GEO distributions. Common Stock (CUSIP # 36162J106) Ordinary Dividends Capital Gains CUSIP RecordDate PaymentDate TotalDividends Total Qualified (1) Non-Qualified Total UnrecapturedSection 1250 Long Term NondividendDistributions (2) 36162J

BOCA RATON, Fla.--(BUSINESS WIRE)--The GEO Group, Inc. (NYSE: GEO) (“GEO”) announced today that the Federal Bureau of Prisons has decided to not exercise the contract renewal option for the company-owned, 1,878-bed Moshannon Valley Correctional Facility in Pennsylvania, when the contract base period expires on March 31, 2021. The contract for the Moshannon Valley Correctional Facility generated approximately $42 million in annualized revenues for GEO. GEO expects to market the Moshannon Valley Correctional Facility to other federal and state agencies. George C. Zoley, Chairman and Chief Executive Officer of GEO, said, “GEO has operated the Moshannon Valley Correctional Facility und