The Geo Group (GEO) has announced a 3:2 Stock Split !
In a surprise move company’s Board of Directors approved the Split on 24 March 2017. Shareholders of record on April 10, 2017 will receive one new share for every two share they own on April 24th 2017. In addition the stock will begin trading at the new Split adjusted price on April 25th 2017.
GEO Group is organized as a REIT and is involved in the financing and operation of Private Prison Facilities, Correctional Facilities, Detention Centers and Community Reentry Facilities. It operates globally in the United States, United Kingdom, Australia and South Africa. The Geo Group currently has a total of 104 facilities under operation or management.
Just last summer we say its share price plummet when it was announce the Bureau of Prisons ion the U.S. would discontinue their service but the stock quickly bounced back when this decision was reversed under the new presidential administration.
The company’s outstanding stock will increase from Approximately 82 million share to 123 million shares.
Its current Dividend is $ 2.80 Annually and its current yield is 6.09%.
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