Maximus Board Authorizes $200 Million Increase to Purchase Program of Maximus Common Stock
12 December 2024 - 12:00AM
Business Wire
Previous $200 million authorization has been
completed
Maximus (NYSE:MMS), a leading employer and provider of
government services, announced today that its Board of Directors
has authorized a $200 million increase to the purchase program for
Maximus common stock, enabling ongoing, opportunistic purchase
activity.
The previous $200 million authorization announced in June 2024
had $171.4 million available capacity at September 30, 2024. Recent
share purchase activity in the current quarter consumed the
remaining capacity.
The Company intends to purchase shares opportunistically at
prevailing market prices in the open market, via 10b5-1 plans, or
in privately negotiated transactions, with the amount and timing of
purchases depending on market conditions, corporate needs, and
other factors.
This program does not obligate the Company to acquire any
particular amount of Common Stock, has no specified expiration
date, and may be extended, modified, suspended or discontinued at
any time at the Company’s discretion.
“We are confident in our future and ability to be an effective
and efficient partner to government. Increasing the amount
authorized under this program is consistent with our opportunistic
approach to purchasing our common stock,” commented Bruce Caswell,
President and Chief Executive Officer of Maximus. “Our capital
allocation priorities are unchanged and continue to be based on a
disciplined approach to maximize value for our shareholders.”
About Maximus
As a leading strategic partner to government, Maximus helps
improve the delivery of public services amid complex technology,
health, economic, environmental, and social challenges. With a deep
understanding of program service delivery, acute insights that
achieve operational excellence, and an extensive awareness of the
needs of the people being served, our employees advance the
critical missions of our partners. Maximus delivers innovative
business process management, impactful consulting services, and
technology solutions that provide improved outcomes for the public
and higher levels of productivity and efficiency of
government-sponsored programs. For more information, visit
maximus.com.
Forward-Looking Statements
Except for historical information, all of the statements,
expectations, and assumptions contained in this Current Report on
Form 8-K are forward-looking statements as that term is defined in
the Private Securities Litigation Reform Act of 1995, including
statements regarding the Company’s stock purchase program and
capital allocation priorities. Actual results may differ materially
from those explicit or implicit in the forward-looking statements.
Important factors that could cause actual results to differ
materially include, but are not limited to: the fact that common
stock purchases may not be conducted in the time frame or in the
manner the Company expects, or at all, the Company’s capital
allocation priorities may shift and the other risk factors
disclosed in the Company’s Annual Report on Form 10-K for the year
ended September 30, 2024, as updated by the Company’s other filings
with the Securities and Exchange Commission, copies of which are
available free of charge on the Company’s website at
investor.maximus.com. The Company assumes no obligation and does
not intend to update these forward-looking statements, except as
required by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20241211653790/en/
Investor Relations James Francis Jessica Batt
IR@maximus.com Media & Public Relations Eileen Cassidy
Rivera media@maximus.com
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