Maximus Board Authorizes $200 Million Increase in Stock Repurchase Program

Maximus (NYSE: MMS), a prominent government services provider and employer, has recently disclosed an expansion in its stock repurchase program. The company’s Board of Directors has given the green light for a $200 million increase in the authorization for purchasing Maximus common stock. This decision allows for continuous and opportunistic buyback activities.

Having successfully completed the previous $200 million authorization announced in June 2024, the company had $171.4 million available for repurchases as of September 30, 2024. Recent share buyback activities in the current quarter utilized the remaining capacity.

Under this program, Maximus intends to acquire shares opportunely at market prices prevailing in the open market, via 10b5-1 plans, or through privately negotiated transactions. The timing and quantity of these purchases will be subject to market conditions, corporate requirements, and other pertinent factors. Importantly, this repurchase program does not bind the company to procure any specific amount of Common Stock, has no fixed expiration date, and can be extended, amended, suspended, or terminated at any point at the company’s discretion.

Maximus’ President and Chief Executive Officer, Bruce Caswell, expressed confidence in the company’s future prospects and its capability to effectively serve as a partner to the government. Caswell affirmed, “Increasing the amount authorized under this program is consistent with our opportunistic approach to purchasing our common stock. Our capital allocation priorities remain unchanged, aiming to maximize value for our shareholders.”

Maximus is a key strategic partner to governments, helping enhance the delivery of public services amid intricate technological, health, economic, and social challenges. Known for its operational excellence, the company’s services aim to improve outcomes for the public and increase efficiency in government-sponsored programs.

While looking to the future, Maximus provided forward-looking statements in accordance with the Private Securities Litigation Reform Act of 1995. These statements address the stock purchase program and capital allocation priorities, with a caution that actual results may vary from the contents of the forward-looking statements.

For more information on Maximus and its operations, visit maximus.com.

**Cautionary Statement Regarding Forward-Looking Statements**: The company does not intend to update the forward-looking statements included in this release unless required by law. Investors are encouraged to review risk factors that could potentially affect actual results as outlined in the Company’s SEC filings.

**Contact Information**:
Investor Relations – James Francis: [email protected]
Media & Public Relations – Eileen Cassidy Rivera: [email protected]

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Maximus’s 8K filing here.

About Maximus

Maximus, Inc operates as a provider of government services in the United States and internationally. It operates through three segments: U.S. Federal Services, U.S. Services, and Outside the U.S. The U.S. Services segment offers program eligibility support and enrollment; centralized multilingual customer contact centers, multichannel, and digital self-service options for enrollment; application assistance and independent health plan choice counseling; beneficiary outreach, education, eligibility, enrollment, and redeterminations; and person-centered independent disability, long-term sick, and other health assessments.