The Female Health Company (FHC) Expands Buyback Program to 3M Shares
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The Female Health Company (NYSE: FHC) announced today that its stock repurchase program has been expanded to 3,000,000 shares and extended until December 31, 2010. The program was initiated in January 2007 to repurchase up to 1,000,000 shares of the Company's common stock through December 31, 2008. In April 2008, the program was expanded to 2,000,000 shares and extended until December 31, 2009. Through January 31, 2009, the Company had repurchased nearly 1.6 million shares of its common stock for approximately $4.7 million under this program.
The Company's Board of Directors approved the program expansion and extension because it believes the market has undervalued its stock and that repurchasing it is a good use of surplus cash.
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