CoreCivic (CXW) will raise its quarterly dividend by 2.3 percent to $0.44 per share in the first quarter of 2019.

The new annualized dividend rate of $1.76 translates into a yield of approximately 8.0%. Its the second dividend increase by CXW since its December 2016 dividend cut.

CoreCivic, formerly Corrections Corporation of America, is a diversified government solutions company with the scale and experience needed to solve tough government challenges in flexible cost-effective ways. The company provides a broad range of solutions to government partners that serve the public good through corrections and detention management, a growing network of residential reentry centers to help address America’s recidivism crisis, and government real estate solutions. CX is the nation’s largest owner of partnership correctional, detention and residential reentry facilities.