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Chemed Corporation’s Board of Directors Authorizes an Additional $300 Million for Stock Repurchase
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Rhea-AI Summary
Chemed Corporation has authorized an additional $300 million for stock repurchase under its existing share repurchase program. The repurchases will be funded through cash generated from operations and utilization of its revolving credit facility.
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CINCINNATI--(BUSINESS WIRE)--
Chemed Corporation (NYSE:CHE) announced today that the Board of Directors has formally authorized an additional $300 million for stock repurchase under Chemed’s existing share repurchase program. These share repurchases will be funded through a combination of cash generated from operations as well as utilization of its revolving credit facility.
Listed on the New York Stock Exchange and headquartered in Cincinnati, Ohio, Chemed Corporation (www.chemed.com) operates two wholly owned subsidiaries: VITAS Healthcare and Roto-Rooter. VITAS is the nation's largest provider of end-of-life hospice care and Roto-Rooter is the nation’s leading provider of plumbing and drain cleaning services.
Statements in this press release or in other Chemed communications may relate to future events or Chemed's future performance. Such statements are forward-looking statements and are based on present information Chemed has related to its existing business circumstances. Investors are cautioned that such forward-looking statements are subject to inherent risk that actual results may differ materially from such forward-looking statements. Further, investors are cautioned that Chemed does not assume any obligation to update forward-looking statements based on unanticipated events or changed expectations.
Chemed Corporation announced an additional $300 million for stock repurchase under its existing share repurchase program.
How will the share repurchases be funded?
The share repurchases will be funded through a combination of cash generated from operations and utilization of Chemed Corporation's revolving credit facility.
What subsidiaries does Chemed Corporation operate?
Chemed Corporation operates two wholly owned subsidiaries: VITAS Healthcare and Roto-Rooter.
What is VITAS Healthcare known for?
VITAS Healthcare is the nation's largest provider of end-of-life hospice care.
What is Roto-Rooter known for?
Roto-Rooter is the nation’s leading provider of plumbing and drain cleaning services.
