CBIZ, Inc. announces an Equity Buyback for 5,000,000 shares, representing 10.04% of its issued share capital.
February 08, 2024 at 04:13 pm EST
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CBIZ, Inc. (NYSE:CBZ) announces a share repurchase program. Under the program, the company will repurchase up to 5,000,000 shares, representing 10.04% of its outstanding common stock. The program will be funded out of operating cash flow and by borrowing under the company's credit facility.
The repurchase program is valid until March 31, 2025. As of December 31, 2023, the company had approximately 49,813,682 shares outstanding.
CBIZ, Inc. is a provider of financial, insurance and advisory services to businesses throughout the United States and parts of Canada. It provides a range of accounting, insurance brokerage, financial and advisory services. It delivers its services through three groups: Financial Services, Benefits and Insurance Services, and National Practices. Financial Services is comprised of core accounting services, including traditional accounting, tax compliance, advisory, and specialty services, like transaction and risk advisory services, litigation support, valuation, and federal and state government health care compliance and consulting. Benefits and Insurance Services provides brokerage and consulting for group health benefits and property and casualty insurance, in addition to retirement plan advisory and investment services. National Practices provides information technology and hardware services and healthcare consulting services. It also maintains a cyber risk management program.
CBIZ, INC. 
