Deleveraging Target Seems Reasonable...
Previously I discussed why GEO Group (GEO) should reduce its dividend to focus on deleveraging. On the Q2-2020 earnings release, GEO reduced its quarterly dividend from $0.48/share to $0.34/share. More importantly, GEO announced that it anticipates to repay $100 million in debt and quantified $50-100 million for annual debt repayment starting in 2021. Leaving aside whether this initial effort is enough or not, this is a good first step to take and the deleveraging targets look reasonable to me.
The new dividend rate is going to save GEO