Correctional Properties Trust Declares Quarterly Dividend
May 04 2005 - 2:21PM
PR Newswire (US)
Correctional Properties Trust Declares Quarterly Dividend PALM
BEACH GARDENS, Fla., May 4 /PRNewswire-FirstCall/ -- Correctional
Properties Trust (NYSE:CPV), a real estate investment trust, today
announced that its Board of Trustees declared a quarterly dividend
of $0.45 (forty-five cents) per share for the quarter ended March
31, 2005, on each common share of beneficial interest, payable June
1, 2005, to shareholders of record at the close of business on May
16, 2005. 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 within the meaning of the Private Securities Litigation
Reform Act of 1995 regarding future events and future performance
of the Company that involve risks and uncertainties that could
materially affect actual results. Such forward- looking statements
are made pursuant to the "safe harbor" provisions of the Private
Securities Litigation Reform Act of 1995 and are qualified in their
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 the
Company's Form 10-K for the fiscal year ended December 31, 2004,
and subsequent periodic reports. The Company assumes no obligation
to update or supplement forward- looking statements that become
untrue because of subsequent events. 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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