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Why GEO Group Stock Was Sliding Today

TheMotleyFool

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Shares of GEO Group (NYSE: GEO) were getting hammered Wednesday morning after the operator of private prisons and detention centers said it was suspending its dividend in order to maximize cash flow to repay debt, deleverage, and fund growth.

The stock was down by 19.5% as of 11:23 a.m. EDT on the news.

Image source: Getty Images.

Source Fool.com

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