Molina Announces $50M Stock Buyback Program

Molina Healthcare

today announced that its Board of Directors has authorized the repurchase of up to $50 million in aggregate of the Company's common stock. The repurchase program is effective as of September 30, 2013, and will be funded by existing cash on hand. Stock repurchases under this program may be made through open-market and/or privately negotiated transactions at times and in such amounts as management deems appropriate. The timing and actual number of shares repurchased will depend on a variety of factors including price, corporate and regulatory requirements and other market conditions. The repurchase program extends through December 31, 2014, but the Company