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ICF Announces $100 Million Increase to Share Repurchase Authorization

ICFI
  • ICF's board approved a $100 million increase to its share repurchase authorization, bringing the total authority to $165 million.
  • The expansion builds on a prior program that had $65 million remaining.
  • Year-to-date, ICF has repurchased approximately 435,000 shares for a total consideration of $29 million.
  • CEO John Wasson stated the authorization reflects confidence in long-term prospects driven by a substantial backlog & robust new business pipeline.
  • The company plans to use the program & strong cash flow to return capital to shareholders, maintain dividend payments, & fund organic investments & strategic acquisitions.