MAXIMUS Announces Two-for-One Stock Split and Quarterly Cash Dividend
RESTON, Va. -- April 18, 2013
MAXIMUS (NYSE:MMS), a leading provider of government services worldwide,
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 28, 2013, each shareholder of record
at the close of business on June 14, 2013 will receive an additional share of
stock for each outstanding share. The number of outstanding common shares will
double to approximately 70 million shares.
In addition, the Board of Directors also approved the Company's regular
quarterly cash dividend of $0.09 per share payable on May 31, 2013 to
shareholders of record on May 15, 2013.
Richard Montoni, President and Chief Executive Officer of MAXIMUS, commented,
"Our focus on delivering high-quality, value-added services to our government
clients in the areas of health and human services has been one of the main
pillars of growth over the last several years for MAXIMUS. The success we have
achieved in growing the business underscores the confidence we have in our
future outlook. The management team remains committed to offering the highest
quality of services to our clients, growing the business with new work, and
building long-term shareholder value. Today's announced stock split reflects
our positive outlook for the Company, our strong market positioning, and the
many emerging opportunities we see across our business."
MAXIMUS is a leading operator of government health and human services programs
in the United States, United Kingdom, Canada, Australia and Saudi Arabia. The
Company delivers business process solutions to improve the cost effectiveness,
efficiency and quality of government-sponsored benefit programs, such as
Medicaid, Medicare, Children's Health Insurance Program (CHIP), Health
Insurance BC (British Columbia), as well as welfare-to-work and child support
enforcement programs across the globe. The Company's primary customer base
includes federal, provincial, state, county and municipal governments.
Operating under its founding mission of Helping Government Serve the People^®,
MAXIMUS has approximately 8,800 employees worldwide. For more information,
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.
Lisa Miles, 703-251-8637
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