Key Developments: Corrections Corporation of America (CXW.N)

CXW.N on New York Stock Exchange

33.38USD
11 Jul 2014
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Latest Key Developments (Source: Significant Developments)

Corrections Corporation of America declares quarterly cash dividend
Thursday, 15 May 2014 04:15pm EDT 

Corrections Corporation of America:Declared a quarterly dividend of $0.51 per share.Payable on July 15 to shareholders of record on July 2.  Full Article

Corrections Corporation of America gives Q2 2014 EPS guidance in line with analysts' estimates; reaffirms FY 2014 FFO guidance
Wednesday, 7 May 2014 04:15pm EDT 

Corrections Corporation of America:Expects Q2 2014 adjusted diluted EPS to be in range of $0.45 to $0.47.Expects FY 2014 adjusted diluted EPS to be in range of $1.84 to $1.92.Expects FY 2014 normalized FFO to be in range of $2.56 to $2.64 per diluted share.Expects FY 2014 AFFO per diluted share to be in range of $2.49 to $2.58.Q2 2014 EPS of $0.47 - Thomson Reuters I/B/E/S.FY 2014 FFO per share of $2.61 - Thomson Reuters I/B/E/S.  Full Article

Corrections Corporation of America announces new CFO
Thursday, 10 Apr 2014 09:00am EDT 

Corrections Corporation of America:Says David Garfinkle, vice president of finance and controller, has been selected to succeed Todd Mullenger as the chief financial officer effective May 1.Mullenger has decided to step down as CFO, but will remain with the company for a two-year period to assist in the transition and to assist in various projects.  Full Article

Corrections Corporation of America declares quarterly cash dividend of $0.51 per share
Thursday, 20 Feb 2014 04:15pm EST 

Corrections Corporation of America:Declares a quarterly dividend of $0.51 per share to be paid on April 15 to shareholders of record as of the close of business on April 2.  Full Article

Corrections Corporation of America gives Q1 2014 EPS guidance in line with analysts' estimates and gives FY 2014 FFO guidance above analysts' estimates
Wednesday, 12 Feb 2014 04:10pm EST 

Corrections Corporation of America:Expects Q1 2014 adjusted diluted EPS to be in the range of $0.42 to $0.44.Expects FY 2014 adjusted diluted EPS to be in the range of $1.84 to $1.92.Expects normalized FFO for fiscal 2014 to be in the range of $2.56 to $2.64 per diluted share, while fiscal 2014 AFFO per diluted share is expected to be in the range of $2.49 to $2.58.Q1 2014 EPS of $0.43 - Thomson Reuters I/B/E/S.FY 2014 FFO per share of $2.53 - Thomson Reuters I/B/E/S.  Full Article

Corrections Corporation of America declares quarterly dividend
Thursday, 12 Dec 2013 04:15pm EST 

Corrections Corporation of America:Declares a regular quarterly dividend of $0.48 per share ($1.92 annually) to be paid on Jan. 15, 2014 to shareholders of record as of the close of business on Jan. 2, 2014.  Full Article

Corrections Corporation of America Issues Q4 2013 EPS Guidance Below Analysts' Estimates; Lowers FY 2013 FFO Guidance
Wednesday, 6 Nov 2013 04:15pm EST 

Corrections Corporation of America announced that it expects Adjusted Diluted EPS for the fourth quarter of 2013 to be in the range of $0.37 to $0.41, resulting in fiscal 2013 Adjusted Diluted EPS to be in the range of $1.85 to $1.89. The Company expects Normalized FFO for fiscal 2013 to be in the range of $2.58 to $2.62 per diluted share, while fiscal 2013 AFFO Per Diluted Share is expected to be in the range of $2.51 to $2.58. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report EPS of $0.49 for the fourth quarter of 2013 and FFO per share of $2.70 for fiscal 2013.  Full Article

Corrections Corporation of America Declares Regular Quarterly Dividend
Friday, 16 Aug 2013 04:10pm EDT 

Corrections Corporation of America announced that its Board of Directors declared a regular quarterly dividend of $0.48 per share ($1.92 annually) to be paid on October 15, 2013 to shareholders of record as of the close of business on October 2, 2013.  Full Article

Corrections Corporation of America Issues Q3 2013 FFO Guidance Below Analysts' Estimates; Issues Q4 2013 EPS Guidance Below Analysts' Estimates; Raises FY 2013 FFO Guidance
Wednesday, 7 Aug 2013 04:31pm EDT 

Corrections Corporation of America announced that for the third quarter of 2013, it expects adjusted Diluted EPS to be in the range of $0.45 to $0.47 and adjusted Diluted EPS for fourth quarter of 2013 to be in the range of $0.48 to $0.50, resulting in fiscal 2013 adjusted Diluted EPS in the range of $1.95 to $1.99. For fiscal 2013, the Company expects normalized FFO to be in the range of $2.65 to $2.69 per diluted share, while AFFO Per Diluted Share is in the range of $2.58 to $2.66. For the third quarter of 2013, it expects Funds From Operations Per Diluted Share (FFO) to be in the range of $0.61-$0.64, Adjusted Funds From Operations Per Diluted Share (AFFO) to be in the range of $0.59-$0.60. According to I/B/E/S Estimates, analysts were expecting the Company to report FFO of $2.73 for fiscal 2013; FFO of $0.67 for the third quarter of 2013; EPS of $0.51 for the fourth quarter of 2013.  Full Article

Corrections Corporation of America Updates On Q2, FY 2013 Guidance
Thursday, 16 May 2013 04:30pm EDT 

Corrections Corporation of America announced that on May 8, 2013, the Company issued guidance, which was calculated without including any adjustment for the additional shares that would be issued in connection with the special dividend. Therefore, the Company is providing updated guidance incorporating the impact of the additional shares to be issued. For the second quarter of 2013, it expects Adjusted Diluted EPS of $0.49 to $0.50. Normalized Funds From Operations (FFO) per diluted share of $0.66 to $0.68 and Adjusted Funds From Operations per diluted share of $0.65 to $0.66 which assumes 109.1 million weighted average shares outstanding for the second quarter of 2013. For fiscal 2013 adjusted Diluted EPS of $1.91 to $1.98. Normalized Funds From Operations per diluted share of $2.60 to $2.67 and adjusted Funds From Operations per diluted share of $2.53 to $2.65 which assumes 111.5 million weighted average shares outstanding for fiscal 2013 no other adjustments have been made to guidance. The guidance excludes REIT conversion costs, debt refinancing costs, and the reversal of certain net deferred tax liabilities associated with the REIT conversion.  Full Article

Fitch Affirms Correction Corp.'s IDR at 'BB+'; Outlook Stable

(The following statement was released by the rating agency) NEW YORK, January 29 (Fitch) Fitch Ratings has affirmed the credit ratings of Corrections Corporation of America (CCA) as follows: --Issuer Default Rating (IDR) at 'BB+'; --$900 million secured revolving credit facility at 'BBB-'; --$675 million senior unsecured notes at 'BB+'. The Rating Outlook is Stable. KEY RATING DRIVERS The affirmation of CCA’s IDR at ‘BB+’ reflects the company’s strong credit metrics offset by declining

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