Chemed Corporation (NYSE:CHE) announced today that the Board of Directors has formally authorized an additional $100 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.
The Board of Directors also declared a quarterly cash dividend of 16 cents per share on the Company's capital stock, payable on December 7, 2011, to shareholders of record as of November 17, 2011. This represents the 162nd consecutive quarterly dividend paid by Chemed in its 40 years as a public company.
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.