National HealthCare Corp.'s board approved a new, up to $25 million stock repurchase program, replacing a previous program approved Aug. 3, 2017.

Under the new program, the skilled-nursing operator may repurchase its common stock from time to time, through the open market, private deals or other transactions, from Sept. 1 to Aug. 31, 2019.

National HealthCare intends to use cash on hand, available borrowings or proceeds from potential debt or other capital market sources to fund the repurchases.