SHARE BUYBACK ANNOUNCED
I was out all day, and what a nice surprise to come home to. I was hoping for the buyback, but in all honesty, I didn't expect it to be this extensive.
They have authorized management to buyback up to 10% of all shares outstanding! This is a real vote of confidence on the part of the Board in Matria's future performance.
GM
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Matria Establishes Share Repurchase Program
MARIETTA, Ga., Feb. 25 /PRNewswire/ -- Matria Healthcare, Inc. (Nasdaq: MATR), announced today that its Board of Directors has authorized management to take the necessary steps to repurchase up to 3.6 million shares of the Company's outstanding Common Stock in open market transactions. These shares will be used, in part, to cover future obligations under the Company's existing employee benefit plans.
Donald R. Millard, President and CEO, stated, "It is our opinion that at current market prices Matria's shares represent an attractive opportunity for the Company. The timing of these purchases and the number of shares purchased will be dictated by market conditions and other relevant factors."
Matria Healthcare, Inc. is the leading provider of comprehensive obstetrical homecare and maternity management services to HMOs, indemnity carriers, and employers.
SOURCE Matria Healthcare, Inc.
CO: Matria Healthcare, Inc.
ST: Georgia
IN: HEA
SU:
02/25/98 13:52 EST prnewswire.com |
