CINCINNATI--(BUSINESS WIRE)--May 27, 2004--Chemed Corporation
(NYSE:CHE) today announced that it has completed the redemption of the
Convertible Trust Preferred Securities ("Preferred Securities") of the
Chemed Capital Trust as of May 17, 2004.
Of the total 518,538 Preferred Securities outstanding as of March
31, 2004, 417,256 were converted by holders into 304,597 shares of
Chemed Corporation Capital Stock. The remaining 101,282 Preferred
Securities were redeemed for cash of $2,770,816.
Listed on the New York Stock Exchange and headquartered in
Cincinnati, Ohio, Chemed Corporation (www.chemed.com) is the nation's
largest provider of end-of-life hospice care services through its
VITAS Healthcare Corporation subsidiary. Chemed also maintains a
presence in the residential and commercial repair-and-maintenance
industry through two subsidiaries. Roto-Rooter is North America's
largest provider of plumbing and drain cleaning services. Service
America Network Inc. provides major-appliance and
heating/air-conditioning repair, maintenance, and replacement
Statements in this press release or in other Chemed communications
may relate to future events or Chemed's future performance. Such
statements are forward-looking statements and are based on present
information Chemed has related to its existing business circumstances.
Investors are cautioned that such forward-looking statements are
subject to inherent risk that actual results may differ materially
from such forward-looking statements. Further, investors are cautioned
that Chemed does not assume any obligation to update forward-looking
statements based on unanticipated events or changed expectations.
CONTACT: Chemed Corporation
David P. Williams, 513-762-6901
SOURCE: Chemed Corporation