View all news

MAXIMUS Announces Two-for-One Stock Split and a 20 Percent Increase to Its Quarterly Cash Dividend

05/09/2011

RESTON, Va.--(BUSINESS WIRE)--MAXIMUS (NYSE:MMS) announced today that its Board of Directors has approved a two-for-one stock split of the Company’s common stock in the form of a stock dividend of one share for each outstanding share. On June 30, 2011, each shareholder of record at the close of business on June 15, 2011 will receive an additional share of stock for each outstanding share. The number of outstanding common shares will double to approximately 35 million shares.

In addition, the Board of Directors also approved a 20 percent increase to the Company’s quarterly cash dividend beginning with the August dividend. The new post-split quarterly cash dividend of $0.09 will be payable on August 31, 2011 to shareholders of record on August 15, 2011.

Richard Montoni, Chief Executive Officer commented, “Today’s announced stock split and dividend increase underscores the confidence we have in our future. We are squarely focused on driving growth in our business with a high level of visibility while generating solid returns to build long-term shareholder value. Our actions demonstrate our commitment to profitable growth and delivering value to shareholders. With a healthy balance sheet and strong cash flows, we are well positioned to fund our future growth while providing cash returns to shareholders.”

About MAXIMUS

MAXIMUS is a leading provider of government services worldwide and is devoted to providing health and human services program management and consulting services to its clients. The Company has more than 6,500 employees located in more than 220 offices in the United States, Canada, Australia and the United Kingdom. Additionally, MAXIMUS is included in the Russell 2000 Index and the S&P SmallCap 600 Index.

Statements that are not historical facts, including statements about the Company's confidence and strategies and the Company's expectations about revenues, results of operations, profitability, future contracts, market opportunities, market demand or acceptance of the Company's products are forward-looking statements that involve risks and uncertainties. These uncertainties could cause the Company's actual results to differ materially from those indicated by such forward-looking statements and include reliance on government clients; risks associated with government contracting; risks involved in managing government projects; legislative changes and political developments; opposition from government unions; challenges resulting from growth; adverse publicity; and legal, economic, and other risks detailed in Exhibit 99.1 to the Company's most recent Quarterly Report filed with the Securities and Exchange Commission, found on www.maximus.com.

MAXIMUS
Lisa Miles, 800-MAXIMUS x11637

Multimedia Files:

Categories: Press Releases
View all news