MAXIMUS Reports Fiscal Year 2018 Third Quarter Results
- Company to Increase Quarterly Cash Dividend to $0.25 per Share -
MAXIMUS (NYSE: MMS), a leading provider of government services worldwide, today reported financial results for the three and nine months ended June 30, 2018.
Highlights for the third quarter of fiscal year 2018 include:
- Revenue of $597.9 million compared to $600.4 million reported for the same period last year
- Diluted earnings per share of $0.91 compared to $0.86 for the same period last year
- Cash flows from operations of $72.5 million and free cash flow of $64.1 million
- Year-to-date signed contract awards of $2.0 billion and contracts pending (awarded but unsigned) of $779.4 million at June 30, 2018
- Sales pipeline of $2.9 billion at June 30, 2018
- An expansion of the Company's share repurchase program of up to $200 million and the purchase of 995,000 shares in the quarter
- Today, the Company announced a significant increase to the quarterly cash dividend from the current payout of $0.045 per share to $0.25 per share, which is a yield of approximately 1.5%, effective November 2018.