Aetna Board Authorizes Share Repurchases.Business Editors/Health/Medical Writers HARTFORD, Conn.--(BUSINESS WIRE)--Dec. 5, 2003 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 adopted a resolution authorizing the company to repurchase re·pur·chase tr.v. re·pur·chased, re·pur·chas·ing, re·pur·chas·es To buy (something) again. n. The act of buying something that one previously sold or owned. Noun 1. from time to time up to 10 million shares of its common stock, not to exceed an aggregate purchase price of $750 million. The company intends to continue buying shares utilizing available cash, including proceeds from employee stock option exercises, in order to offset dilution from option exercises. This new program replaces any shares remaining to be purchased under prior authorizations 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 . Aetna had approximately 153 million common shares outstanding as of September 30, 2003. 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 13.0 million medical members, 11.0 million dental members, 7.4 million pharmacy members and 12.1 million group insurance customers, as of September 30, 2003. The company has expansive nationwide networks of more than 590,000 health care services providers, including more than 355,000 primary care and specialist physicians and 3,577 hospitals. For more information about Aetna, please visit the company's web site at www.aetna.com. |
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