By Chris Wack
Chemed's board of directors has authorized an additional $300 million for stock repurchases under its existing share buyback program and boosted the company's dividend by 20%.
The company, which provides both end-of-life hospice care and plumbing and drain cleaning services, said the shares repurchases will be funded through a combination of cash generated from operations as well as utilization of its revolving credit facility.
The board also raised its dividend 20%, to 60 cents a share from 50 cents. The dividend is payable Aug. 29 to shareholders of record as of Aug. 11. Chemed's previous dividend increase was last August.
Chemed shares hit their 52-week low of $408.42 earlier in the session, and are down 28% in the past 12 months.
Write to Chris Wack at chris.wack@wsj.com
(END) Dow Jones Newswires
August 01, 2025 13:18 ET (17:18 GMT)
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