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Quotes & Info
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| CBZ > SEC Filings for CBZ > Form 8-K on 24-Feb-2009 | All Recent SEC Filings |
24-Feb-2009
Other Events
On February 24, 2009, CBIZ, Inc. (the "Company") issued a press release
announcing the authorization of the continuation of the Company's Share
Repurchase Program. This authorization renews the 5.0 million share
authorization currently in place which expires on March 31, 2009. The Board of
Directors of the Company has authorized the purchase of up to 5.0 million shares
of its outstanding common stock to be obtained in open market or privately
negotiated purchases through March 31, 2010.
As of January 31, 2009, CBIZ had approximately 61.9 million shares of its common
stock outstanding. CBIZ's Board of Directors believes that the repurchase plan
is a prudent use of the Company's financial resources, and that investing in its
own shares is an attractive use of capital and an efficient means to provide
value to CBIZ stockholders. CBIZ anticipates that it will obtain all of the
funds necessary to purchase shares under the repurchase program, and to pay
related fees and expenses, from operating cash flow and by borrowing under its
credit facility. This authorization allows such purchases to the extent
permitted under the Company's current or any future credit facility, without
further amendment.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
99.1 Press Release of CBIZ, Inc. dated February 24, 2009, announcing the Share
Repurchase Program effective through March 31, 2010.
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