EL SEGUNDO, Calif., May 7 /PRNewswire-FirstCall/ -- DaVita Inc. (NYSE: DVA) announced that its Board of Directors has authorized an increase to its current stock repurchase program. The increase, together with previously available amounts, authorizes the repurchase of $250,000,000 of the Company's common stock. The stock repurchase program has no expiration date.
Rich Whitney, CFO, commented, "We have historically maintained a board authorization in this range which allows us flexibility to return capital to our shareholders over time."
Purchases may be made in the open market or in privately negotiated transactions from time to time at management's discretion depending on market conditions and other considerations. The repurchase program may be suspended or discontinued at any time. Shares of stock repurchased under the plan will be held as treasury shares.
As of May 1, 2008, DaVita had approximately 104,700,000 shares of common stock outstanding.
DaVita Inc. is a leading provider of kidney care in the United States, providing dialysis services and education for patients with chronic kidney failure and end stage renal disease. DaVita manages over 1,300 outpatient facilities and acute units in over 700 hospitals located in 43 states and the District of Columbia, serving approximately 107,000 patients.
|SOURCE DaVita Inc.|
Copyright©2008 PR Newswire.
All rights reserved