Correctional Properties Trust Declares Special Dividend
December 20 2004 - 11:50AM
PR Newswire (US)
Correctional Properties Trust Declares Special Dividend PALM BEACH
GARDENS, Fla., Dec. 20 /PRNewswire-FirstCall/ -- Correctional
Properties Trust (NYSE:CPV), a real estate investment trust (REIT),
today announced that its Board of Trustees declared a special
dividend of $0.18 (eighteen cents) per share on each common share
of beneficial interest, payable January 11, 2005, to shareholders
of record at the close of business on December 30, 2004. The
special dividend was declared following the recent sale of the
Mountain View Correctional Facility and Pamlico Correctional
Facility. Correctional Properties Trust, based in Palm Beach
Gardens, Florida, was formed in February 1998, to capitalize on the
growing trend toward privatization in the corrections industry.
Correctional Properties Trust is dedicated to ownership of
correctional facilities under long-term, triple-net leases, which
minimizes occupancy risk and development risk. Correctional
Properties Trust currently owns 12 correctional facilities in nine
states, all of which are leased, with an aggregate initial design
capacity of 6,856 beds. This press release contains forward-looking
statements regarding future events and future performance of the
Company that involve risks and uncertainties that could materially
affect actual results. This information is qualified in its
entirety by cautionary statements and risk factors disclosure
contained in certain of the Company's Securities and Exchange
Commission filings. For a description of certain factors that could
cause actual results to vary from current expectations and
forward-looking statements contained in this press release, refer
to documents that the Company files from time to time with the
Securities and Exchange Commission. Such filings include, without
limitation, the Company's Form 10-K, Forms 10-Q, Registration
Statements on Form S-11 and S-3, and Form 8-K. CONTACT:
Correctional Properties Trust Shareholder Services, (561) 630-6336,
or access Company information at
http://www.correctionalpropertiestrust.com/ DATASOURCE:
Correctional Properties Trust CONTACT: Correctional Properties
Trust Shareholder Services, +1-561-630-6336 Web site:
http://www.correctionalpropertiestrust.com/
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