NHC Announces $25 Million Stock Repurchase Program
Posted by Gerald Coggin on August 6, 2012
For release: August 6, 2012
Contact: Gerald Coggin, Sr. VP of Corporate Relations
Phone: (615) 890-2020
MURFREESBORO, Tenn. – National HealthCare Corporation (NYSE MKT: NHC, NHC.PRA), announces that its Board of Directors, at a regularly scheduled meeting, has authorized a new stock repurchase program that will allow for repurchases of up to $25 million of its common stock over a one year period from the authorization date. The Company will provide an update regarding any purchases made pursuant to the stock repurchase program each time it reports its results of operations.
Under the new 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. 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 program from cash on hand, available borrowings or proceeds from potential debt or other capital market sources. The stock repurchase program may be suspended or discontinued at any time without prior notice.