LHC Group (LHCG) Board authorizes $250 million share repurchase program

December 6, 2021 4:01 PM EST

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LHC Group, Inc. (NASDAQ: LHCG) announced today that its Board of Directors has approved a share repurchase program authorizing the Company to repurchase up to $250,000,000 of its common stock.

Commenting on the announcement, Keith G. Myers, LHC Group's Chairman and Chief Executive Officer, said, "This share repurchase program underscores our continued commitment to building shareholder value, and reflects the Board's confidence in our company. The strength of our balance sheet and cash flows enables us to allocate capital to these repurchases on an accretive basis while at the same time prioritizing continued investments in organic and inorganic growth as well as other long-term initiatives."

The Company expects to fund the share repurchases through a combination of cash on hand, future cash flow from operations and borrowings. Under the share repurchase program, the Company may purchase common stock in open market transactions, block or privately negotiated transactions, and may from time to time purchase shares pursuant to a trading plan in accordance with Rule 10b5-1 and Rule 10b-18 under the Exchange Act or by any combination of such methods, in each case subject to compliance with all Securities and Exchange Commission rules and other legal requirements. The number of shares to be purchased and the timing of the purchases are based on a variety of factors, including, but not limited to, the level of cash balances, credit availability, debt covenant restrictions, general business conditions, the market price of the Company's stock and the availability of alternative investment opportunities. No time limit was set for completion of repurchases under the new authorization, and the program may be suspended or discontinued at any time.

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