CentraCore Properties Trust Increases Quarterly Dividend to $0.46 (Forty-Six Cents) Per Share
February 02 2006 - 3:51PM
PR Newswire (US)
PALM BEACH GARDENS, Fla., Feb. 2 /PRNewswire-FirstCall/ --
CentraCore Properties Trust (NYSE:CPV), a real estate investment
trust, announced that its Board of Trustees declared a quarterly
dividend of $0.46 (forty-six cents) per share on each common share
of beneficial interest, payable March 2, 2006, to shareholders of
record at the close of business on February 16, 2006. Charles R.
Jones, president and chief executive officer of CentraCore
Properties Trust, said, "We are very pleased to increase the
quarterly dividend by one cent. This dividend increase is a direct
result of recent accretive business transactions, including the
acquisition of the Mesa Verde Correctional Facility, and the
extension of the lease on the McFarland Facility." CentraCore
Properties Trust ("CPT"), based in Palm Beach Gardens, Fla., was
formed in February 1998 to capitalize on the growing trend toward
privatization in the corrections industry. CPT has expanded its
scope to include essential real estate projects outside the
corrections sector, including mental health and higher education
facilities. CPT is dedicated to ownership of properties under
long-term, triple-net leases, which minimizes occupancy risk and
development risk. CPT currently owns 13 correctional facilities in
nine states, all of which are leased, with an aggregate completed
design capacity of 7,556 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: CentraCore Properties Trust Shareholder Services (561)
630-6336, or access Company information at
http://www.centracorepropertiestrust.com/ DATASOURCE: CentraCore
Properties Trust CONTACT: CentraCore Properties Trust Shareholder
Services, +1-561-630-6336 Web site:
http://www.centracorepropertiestrust.com/
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