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Corrections Corp. Of America (CXW) Jumped To Over An 8-Month High

2/28/2012 7:29 AM ET

Corrections Corp. Of America (CXW: Quote) announced Monday morning that its Board of Directors approved its intention to initiate a quarterly cash dividend of $0.20 per share beginning in June of 2012.

Corrections Corp. Of America rose sharply during the first half hour of trade Monday and finished up by 1.07 at $24.77. The stock rose above a one-month range and closed at over an 8-month high.

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by RTT Staff Writer

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After showing a lack of direction throughout much of the session, stocks ended Monday's trading modestly lower. The slightly lower close on the day partly offset the strength that was seen in the markets last week. The major averages ended the day below the unchanged line but off their lows for the session. President Barack Obama reportedly plans to deliver a much-anticipated speech on Thursday outlining his administration's evolving counterterrorism policies. Multiple news sources cited a White House official as saying that Obama will address the use of drones and plans to close the detention facility at Guantanamo Bay in a speech at the National Defense University. A second union representing immigration enforcement officers has expressed opposition to the Senate version of comprehensive immigration reform legislation, arguing that the bill fails to address the "insurmountable bureaucracy" at the agency that oversees lawful immigration to the U.S.
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