Market Updates & Recent Developments
Active Share Repurchase Plan & History of Returning Capital to Shareholders
• Since 2009, CoreCivic has delivered $2.3 billion in capital
returned to shareholders.
• As a C-Corp:
- 2009-2011: We returned $491 million through a stock buyback
program
STOCK BUYBACKS, DIVIDENDS AND LEVERAGE ($MM)
$256
$251
$237
$234
Since 2009, CXW has delivered $2.3bn in
buybacks and dividends which represents
~225% of the current market cap1
$210
$200
$204
-
2012: We returned $60 million through quarterly dividends.
• As a REIT:
- 2013-2020: We returned $1.6 billion through quarterly dividends
• 2021:
$164
$146
4.0x
3.7x
3.7x
3.6x
3.5x
3.4x
$108
3.2x
3.1x
2.8x
2.8x
2.7x
2.6x
-
- Debt reduction strategy positioned the company to once again
return capital to shareholders
$60
• 2022:
- $225 million total share repurchase authorized, repurchased
$74.5 million in shares as of December 31, 2022
• 2023:
- Repurchased $24.9 million in shares through March 31, 2023
3.2x
3.1x
2.9x
$75
$106
$25
$-
2009 2010 2011 2012
2013
2014
Stock Buybacks
2015 2016
Prior C-Corp Era Dividend
2017
2018 2019
IREIT Era Dividend
2020 2021 2022
-Total Leverage Ratio
1Q23
Source: Company Management
Note:
1.
Total leverage ratio calculated using total net debt excluding non-recourse debt; EBITDA adjusted for unrestricted subsidiaries, using trailing four quarters.
Market cap as of 5/19/2023
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