NHC Announces $25 Million Repurchase Programs

MURFREESBORO, Tenn. – National HealthCare Corporation (NYSE MKT: NHC, NHC.PRA), announces that its Board of Directors, at a regularly scheduled meeting, has authorized two new stock repurchase programs. One of the programs will allow for repurchases of up to $25 million of its common stock and the other program will allow for the repurchase of up to $25 million of its preferred stock. Both of the new stock purchase plans expire on August 31, 2016. These stock purchase plans replace the stock purchase plan previously approved by the Board of Directors on August 5, 2014.

Under the common stock repurchase program, the Company may repurchase its common stock from time to time, in amounts and at prices the Company deems appropriate, subject to market conditions and other considerations. Under the preferred stock repurchase program, the Company may repurchase its preferred stock from time to time, in amounts and at prices the Company deems appropriate, subject to market conditions and other considerations. The Company’s repurchases may be executed using open market purchases, privately negotiated agreements or other transactions. The Company intends to fund repurchases under the new stock repurchase programs from cash on hand, available borrowings or proceeds from potential debt or other capital market sources. The stock repurchase programs may be suspended or discontinued at any time without prior notice. The Company will provide an update regarding any purchases made pursuant to the stock repurchase programs each time it reports its results of operations. View as PDF