CBIZ, INC. (NYSE:CBZ) Files An 8-K Other Events
Item 8.01 Other Events.

On February 9, 2017, the Board of CBIZ, Inc. (the “Company”) authorized the continuation of the Company’s Share Repurchase Program, which has been renewed annually for the past thirteen years. This authorization renews the 5 million share authorization currently in place which expires on March 31, 2017. The Board of Directors of the Company has authorized the purchase of up to 5 million additional shares of its outstanding common stock to be obtained in open market, privately negotiated, or 10b5-1 trading plan purchases through March 31, 2018.

As of December 31, 2016, CBIZ had approximately 54 million shares of diluted weighted average 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.

About CBIZ, INC. (NYSE:CBZ)

CBIZ, Inc. is engaged in providing professional business services, products and solutions to businesses, as well as individuals, governmental entities and not-for-profit enterprises, throughout the United States and parts of Canada. The Company’s business units are aggregated into three practice groups: Financial Services, National Practices and Employee Services. The Financial Services practice group offers accounting and tax compliance, and consulting, as well as litigation support. The Employee Services practice group offers employee benefits consulting and brokerage, property and casualty brokerage, retirement plan advisory services, payroll services, human capital advisory services, actuarial services and life insurance services. The National Practices group offers technology services and healthcare consulting services.

CBIZ, INC. (NYSE:CBZ) Recent Trading Information

CBIZ, INC. (NYSE:CBZ) closed its last trading session down -0.10 at 13.10 with 132,409 shares trading hands.