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Most GEO Group (NYSE: GEO ) shareholders have elected to receive their special dividend in cash, the company announced in a press release. It was previously announced that the company would disburse a one-time payout amounting to $5.68, with recipients to choose whether they wished to receive it in a mix of common stock and cash, or entirely in common stock.
The vote was around 64% to 17% in favor of the former; 19% did not make a selection.
Those choosing to entirely receive paper as their payout will be given 0.2 shares of newly issued stock for every existing share they hold. The ones who opted for the other selection are to be given around $1.38 in cash and roughly 0.15 shares of stock for each existing share in their possession.
The special dividend will be paid on Dec. 31 and is payable to shareholders of record as of Dec. 12.