Booz Allen Continues Mulling Cash Moves, Authorizes $30M Share Repurchase

The board of directors for Booz Allen Hamilton‘s (NYSE: BAH) parent company has authorized the company to tap its current cash holdings to repurchase $30 million in shares of its outstanding common stock.

The purchases will be made in the open market, possibly in privately-negotiated transactions, the company announced Tuesday.

“We continue to look at a number of options for use of our current cash holdings and believe a share repurchase program provides flexibility to enhance shareholder value relative to our stock price, ” said President, Chairman and CEO Ralph Shrader.

Executive Biz on Monday wrote that Booz Allen is also assessing how it could spend some of its cash reserves in the mergers and acquisitions market, which would represent its first deal since 2003.

Read that story with comment from Chief Financial Officer Sam Strickland, here.

You may also be interested in...

F-35 Lightning II

State Dept OKs Potential $10B Sale of Lockheed-Made F-35s to UAE

The State Department informed Congress it approved the United Arab Emirates’ request to buy 50 Lockheed Martin-built (NYSE: LMT) F-35 fighter jets under a potential $10B deal, Reuters reported Friday. The potential foreign military sales deal will move to an informal review by the House Foreign Affairs and Senate Foreign Relations committees.

strategic partnership

DC Capital Aims to Help HTSI Grow Gov’t Footprint via Strategic Partnership

Private equity firm DC Capital Partners has entered into a strategic partnership agreement with Huntsville, Alabama-based system engineering company Hill Technical Solutions Inc. aimed at helping expand the latter's customer base and support work in the government sector.