Aetna Board Authorizes Share Repurchase.Business Editors HARTFORD, Conn.--(BUSINESS WIRE)--April 30, 2004 Aetna Inc. (NYSE NYSE See: New York Stock Exchange : AET AET Aetna, Inc. AET After Extra Time AET Actual Evapotranspiration AET Alliance for Environmental Technology AET Alpha-Ethyltryptamine AET Applied Extrusion Technologies, Inc. ) today announced that its Board of Directors has authorized au·thor·ize tr.v. au·thor·ized, au·thor·iz·ing, au·thor·iz·es 1. To grant authority or power to. 2. To give permission for; sanction: the company to repurchase from time to time up to $750 million of its common stock. This authorization is in addition to the $326 million remaining under Aetna's prior authorization prior authorization, n See predetermination. prior authorization Health insurance A cost containment measure that provides full payment of health benefits only if the hospitalization or medical treatment has been . The company intends to continue buying shares from time to time using available cash, including proceeds from employee stock option exercises. Aetna had approximately 152 million common shares outstanding as of March 31, 2004. Aetna is one of the nation's leading providers of health care, dental, pharmacy, group life, disability and long-term care long-term care (LTC), n the provision of medical, social, and personal care services on a recurring or continuing basis to persons with chronic physical or mental disorders. benefits, serving approximately 13.3 million medical members, 11.2 million dental members, 8.1 million pharmacy members and 12.4 million group insurance customers, as of March 31, 2004. The company has extensive nationwide networks of more than 618,000 health care services providers, including over 370,000 primary care and specialist physicians and 3,783 hospitals. For more information about Aetna, please visit the company's web site at www.aetna.com. |
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