Richard Montoni: MAXIMUS’ $150M Stock Buyback Plan Wins Board Approval

Richard Montoni

The board of directors at MAXIMUS (NYSE: MMS) has approved the company’s plan to repurchase as much as $150 million in company shares.

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MAXIMUS said Monday that shares acquired through the repurchase program will be held as treasury stock and be used for employee stock issuance and general corporate purposes.

“Our solid financial position gives us the ability to continue repurchasing our shares, ” said Richard Montoni, MAXIMUS president and CEO.

“This most recent increase to the authorization demonstrates our ongoing commitment to deploy capital, while maintaining the financial flexibility needed to continue to invest and grow the business, ” Montoni added.

MAXIMUS’ board authorized a $125 million share repurchase program in 2011 and $43.7 million remained available for buyback as of June 18, 2014.

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