Maximus Board Approves Plan To Buyback An Additional $100 Million

The board of directors of Maximus Inc

has approved an additional share buyback plan worth $100 million. The company's board had earlier authorized a share buyback of $75 million in 2008. Out of the earlier approved program, $22.3 million were still available as of September 15. Richard A. Montoni, President and Chief Executive Officer of MAXIMUS, commented, “The Board, management and employees of MAXIMUS remain committed to returning excess capital to our shareholders through the expansion of our active share repurchase program. With a strong balance sheet and healthy cash flows, we are in an excellent position to significantly increase our authorization while maintaining the financial flexibility to invest in our business and pursue compelling acquisition opportunities.” MMS' shares gained 0.01% to $57.36 in after-hours trading. Read more