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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.

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