CINCINNATI--(BUSINESS WIRE)--Aug. 14, 2006--Chemed Corporation
(NYSE:CHE) today announced that the Board of Directors has formally
authorized the establishment of a $50 million ongoing share repurchase
program. In addition, the Company intends to fully utilize the
remaining $8 million from its February 2000 share repurchase program.
These share repurchases will be funded through a combination of cash
generated from operations as well as utilization of its revolving
credit facility. The timing and the amount of any repurchase of shares
will be determined by Company management based on its evaluation of
market conditions and other factors.
Listed on the New York Stock Exchange and headquartered in
Cincinnati, Ohio, Chemed Corporation (www.chemed.com) operates two
wholly owned subsidiaries: VITAS Healthcare and Roto-Rooter. VITAS is
the nation's largest provider of end-of-life hospice care and
Roto-Rooter is the nation's leading provider of plumbing and drain
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 and 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