SUBSEQUENT EVENTS

12 Months Ended

Dec. 31, 2012

SUBSEQUENT EVENTS

17. SUBSEQUENT EVENTS

During February 2013, CCA issued approximately 0.4 million shares of restricted common stock and common stock units to certain of CCA’s employees and non-employee directors, with an aggregate value of $15.0 million. Unless earlier vested under the terms of the restricted stock unit agreement, approximately 0.3 million restricted stock units were issued to officers and executive officers and vest evenly over a three-year period. Approximately 0.1 million shares issued to other employees “cliff” vest on the third anniversary of the award. Shares of restricted common stock units issued to non-employee directors vest on the first anniversary of the award. Any restricted stock units that become vested will be settled in shares of CCA’s common stock.

On February 21, 2013, the Company’s Board of Directors declared a quarterly dividend of $0.53 per common share payable April 15, 2013 to shareholders of record on April 3, 2013.