Continucare (CNU) Raises Buyback By 1M Shares

May 16, 2008 7:20 AM EDT

Continucare Corporation (AMEX: CNU) said its Board approved a 1.0 million share increase to its previously announced stock repurchase program bringing the total number of shares of common stock authorized for repurchase under the program to 6.5 million.

Since the inception of the program in 2005, Continucare has repurchased 3,542,500 shares of its common stock at a total cost of approximately $8.6 million.

With this increased authorization, an aggregate of 2,957,500 shares are currently available for purchase under the plan.

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