AmSurg Authorizes New $25 Million Stock Repurchase Program.Business Editors
NASHVILLE, Tenn.--(BUSINESS WIRE)--March 31, 2004
AmSurg Corp. (Nasdaq: AMSG AMSG Air Mobility Support Group (US Air Force)
AMSG Ad Majorem Satanae Gloriam
AMSG Allied Military Security Guidelines
AMSG Advanced Metal Services Group
AMSG Appropriate Military Systems Guide
AMSG American Subterfuge Clothing ) 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: a new stock repurchase Stock repurchase
A firm's repurchase of outstanding shares of its common stock. program for up to $25 million of the Company's outstanding shares of common stock over the next 18 months. This authorization is in addition to the $25 million repurchase re·pur·chase
tr.v. re·pur·chased, re·pur·chas·ing, re·pur·chas·es
To buy (something) again.
The act of buying something that one previously sold or owned.
Noun 1. program the Board authorized in February 2003, under which AmSurg has repurchased 1,267,800 shares for $21.2 million and may purchase additional shares through August 2004. AmSurg has approximately 30.2 million shares outstanding. Share data in this release have been adjusted for the Company's three-for-two stock split effected on March 25, 2004.
Ken P. McDonald, President and Chief Executive Officer of AmSurg, commented, "The Board's authorization of this latest repurchase program reflects our confidence in AmSurg's prospects for long-term profitable growth. This authorization, combined with our strong cash flow and our debt capacity, gives us the capability to respond to market conditions affecting the pricing of AmSurg's stock."
AmSurg Corp. develops, acquires and manages physician practice-based ambulatory surgery centers ambulatory surgery center A free-standing center that performs various types of surgery in partnership with surgical and other group practices. At December 31, 2003, AmSurg owned a majority interest in 116 centers and had 12 centers under development.