Molina Healthcare To Buy Back Up To $50 Mln Of Stock

(RTTNews) - Molina Healthcare Inc. (MOH) announced that its board has authorized the repurchase of up to $50 million in aggregate of the company's common stock. The repurchase program is effective as of September 30, 2013, and will be funded by existing cash on hand.

The repurchase program extends through December 31, 2014, but the Company reserves the right to suspend or discontinue the program at any time. The newly authorized repurchase program replaces in its entirety the $75 million repurchase program adopted by the Board of Directors on February 13, 2013.