CCA Prison Realty Trust Declares Dividend.NASHVILLE, Tenn.--(BUSINESS WIRE)--Sept. 3, 1997--CCA Prison Realty Trust, a Maryland real estate investment trust, (NYSE NYSE See: New York Stock Exchange :PZN PZN Pharmazentralnummer PZN Persoonlijk ZorgNetwerk (Dutch) ), announced today that its board of directors has declared a pro rata [Latin, Proportionately.] A phrase that describes a division made according to a certain rate, percentage, or share. In a Bankruptcy case, when the debtor is insolvent, creditors generally agree to accept a pro rata share of what is owed to them. quarterly dividend of $0.346 per share for shareholders of record on Sept. 30, 1997, payable on Oct. 15, 1997. It is the first quarterly dividend declared by CCA (1) (Common Cryptographic Architecture) Cryptography software from IBM for MVS and DOS applications. (2) (Compatible Communications A Realty since the company began trading on the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. , July 15, 1997. The first dividend reflects a pro rata share of $0.425 per share on a quarterly basis, or $1.70 per share on an annual basis. CCA Realty disclosed in its July 15 prospectus that it intends to maintain the initial dividend rate for the first twelve months of operation. Future quarterly dividends are anticipated to be payable during 1998 on or near January 15, April 15, July 15, and October 15. CCA Prison Realty Trust is based in Nashville, Tenn. and qualifies as a real estate investment trust under the Internal Revenue Code The Internal Revenue Code is the body of law that codifies all federal tax laws, including income, estate, gift, excise, alcohol, tobacco, and employment taxes. These laws constitute title 26 of the U.S. Code (26 U.S.C.A. § 1 et seq. . The company's business is to acquire and own correctional and detention facilities from both private prison managers and government entities. CCA Realty currently owns ten facilities including five in Texas, two in Arizona, and one in Tennessee, Kansas and Ohio. This press release contains forward-looking statements that involve various risks and uncertainties. Actual results could differ materially from those contained in these forward-looking statements due to certain factors. These and other risks and uncertainties are detailed in the company's reports filed with the SEC. CONTACT: CCA Prison Realty Trust, Nashville Linda A. Kelley, 615/460-7452 |
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