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GEO Group launches $200M stock repurchase program

Prison real estate investment trust GEO Group Inc. commenced a $200.0 million stock repurchase program, which will run through Oct. 20, 2020.

The company will repurchase the stock using cash on hand, free cash flow and its revolving credit facility, under which it has about $120.0 million of capacity for repurchases. GEO Group believes it has enough capacity to complete the repurchase program "well in advance" of its expiration.