The GEO Group Announces $100M Stock Repurchase Program

The GEO Group GEO announced today that its Board of Directors has approved a stock repurchase program of up to $100.0 million of GEO's common stock effective through December 31, 2012. The stock repurchase program will be funded primarily with cash on hand, free cash flow, and borrowings under GEO's revolving credit facility. GEO believes it has the ability to fund the stock repurchase program, its working capital, its debt service requirements, and its maintenance and growth capital expenditure requirements, while maintaining sufficient liquidity for other corporate purposes.