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National HealthCare board OKs up to $25M stock buyback program

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National HealthCare board OKs up to $25M stock buyback program

National HealthCare Corp.'s board authorized the buyback of up to $25 million of the company's common stock under a new stock repurchase program commencing Sept. 1.

The new plan will replace the earlier one, which was approved by the board Aug. 4, 2016. However, repurchases are allowed under the previous program until its planned Aug. 31 expiration date.

Under the new stock repurchase program, the company will make the repurchases from time to time in open market, private deals or other transactions. Cash on hand, available borrowings, proceeds from potential debt or other capital market sources may be deployed to fund the share buybacks.

Repurchases under the new plan may be carried out until Aug. 31, 2018.