Maximus to Repurchase $200M in Shares; Richard Montoni Comments

Richard Montoni
Richard Montoni

Maximus‘ (NYSE: MMS) board of directors has approved a plan to buy back another $200 million of company stock either in the open market or through privately negotiated transactions.

The company said Monday it will acquire the shares on top of $84 million still remaining from an earlier repurchase effort.

Richard Montoni, Maximus CEO and an inductee into Executive Mosaic‘s Wash100 for 2015, said the initiative seeks to give the company “financial flexibility needed to continue to invest in and grow our business.”

Shares bought under the expanded repurchase program will be held as treasury stock and be used for employee stock plans or other general corporate purposes, the company noted.

Check Also

Intelligence Community Adopts Tech, Telework to Meet Mission Requirements During Pandemic

The U.S. intelligence community has initiated changes to its work operations to ensure continuity, meet mission needs and safeguard the health of its workforce amid the coronavirus pandemic, Government Executive reported Thursday.

Vectrus-J&J JV Wins Potential $154M IDIQ for Naval Base Operations Support

A joint venture between Vectrus (NYSE: VEC) and J&J Worldwide Services has won a potential seven-year, $154.1M contract to help operate the Naval Support Activity installation in Annapolis, Md. Vectrus-J&J Facilities Support will manage facilities, administer general information, oversee wastewater operations, provide transportation and perform other base support services under the indefinite-delivery/indefinite-quantity contract, the Department of Defense said Thursday.