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Subsequent Events
9 Months Ended
Sep. 30, 2018
Subsequent Events [Abstract]  
Subsequent Events
SUBSEQUENT EVENTS

Dividend
On October 15, 2018, the Board of Directors declared a quarterly cash dividend of $0.47 per share of common stock which was paid on November 2, 2018 to shareholders of record as of the close of business on October 26, 2018.

Hurricane Michael

On October 10, 2018, Hurricane Michael impacted the Florida Panhandle, which resulted in widespread damage to the area. As a result, the Company’s managed-only Bay Correctional Facility was impacted and incurred significant property damage. As a result, inmates housed in that facility have been temporarily re-located to other facilities. The Company is continuing to make a full assessment of the extent of the impact.
The Company maintains property and business interruption insurance, subject to certain deductibles, and is currently assessing claims under such policies; however, the timing and amount of insurance proceeds are uncertain and may not be sufficient to cover all losses. Timing differences are likely to exist between the capital expenditures made to repair or restore the property and recognition and receipt of insurance proceeds reflected in our financial statements. The Company expects that its results of operations related to the facility will be adversely impacted in the near term.