UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): August 13, 2019 (
NATIONAL HEALTHCARE CORPORATION
(Exact name of registrant as specified in its charter)
(State or other jurisdiction of incorporation) |
(Commission File Number) |
(I.R.S. Employer Identification No.) |
(Address of Principal Executive Offices) |
(Zip Code) |
Registrant’s telephone number, including area code: (
Not Applicable
(Former name or former address, if changed since last report)
__________________________________
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Securities registered pursuant to Section 12(b) of the Exchange Act:
Title of each class |
Trading Symbol(s) |
Name of each exchange on which registered |
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1988 or Rule 12b-2 of the Securities Exchange Act of 1934. Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial standards pursuant to Section 13(a) of the Exchange Act.
ITEM 8.01. OTHER EVENTS.
On August 8, 2019, the Board of Directors authorized a new stock repurchase program. The program will allow for repurchase of up to $25 million of its common stock. The new stock repurchase plan will begin September 1, 2019 and will expire on August 31, 2020. The new stock repurchase plan replaces the existing stock repurchase plan that expires on August 31, 2019.
Under the stock repurchase program, the Company may repurchase its common stock from time to time, in amounts and at prices the Company deems appropriate, subject to market conditions and other considerations. The Company’s repurchases may be executed using open market purchases, privately negotiated agreements or other transactions. The Company intends to fund repurchases under the new stock repurchase program from cash on hand, available borrowings or proceeds from potential debt or other capital market sources. The stock repurchase program may be suspended or discontinued at any time without prior notice. The Company will provide an update regarding any purchases made pursuant to the stock repurchase program each time it reports its results of operations.
ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS.
(d) |
Exhibits. |
Exhibit No. |
Description of Exhibit |
99.1 |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: August 13, 2019
NATIONAL HEALTHCARE CORPORATION
By: /s/ Brian F. Kidd Name: Brian F. Kidd Title: Senior VP/Controller Principal Accounting Officer |
Exhibit 99.1
NHC Announces $25 Million Stock Repurchase Program
For release: August 13, 2019
Contact: Josh A. McCreary, SVP/General Counsel
Phone: (615) 890-2020
MURFREESBORO, Tenn. – National HealthCare Corporation (NYSE American: NHC), announces that its Board of Directors, at a regularly scheduled meeting, has authorized a new stock repurchase program. The program will allow for repurchases of up to $25 million of its common stock. The new stock repurchase plan will begin September 1, 2019 and will expire on August 31, 2020. The stock repurchase plan replaces the stock repurchase plan previously approved by the Board of Directors on August 9, 2018. Repurchases may be made under the previous plan until August 31, 2019.
Under the stock repurchase program, the Company may repurchase its common stock from time to time, in amounts and at prices the Company deems appropriate, subject to market conditions and other considerations. The Company’s repurchases may be executed using open market purchases, privately negotiated agreements or other transactions. The Company intends to fund repurchases under the new stock repurchase program from cash on hand, available borrowings or proceeds from potential debt or other capital market sources. The stock repurchase program may be suspended or discontinued at any time without prior notice. The Company will provide an update regarding any purchases made pursuant to the stock repurchase program each time it reports its results of operations.
Forward-Looking Statements
Statements in this press release that are not historical facts are forward-looking statements. NHC cautions investors that any forward-looking statements made involve risks and uncertainties and are not guarantees of future performance. The risks and uncertainties are detailed from time to time in reports filed by NHC with the S.E.C., including Forms 8-K, 10-Q and 10-K, and include, among others, the following: liabilities and other claims asserted against us and patient care liabilities, as well as the resolution of current litigation; availability of insurance and assets for indemnification; national and local economic conditions; including their effect on the availability and cost of labor, utilities and materials; the effect of government regulations and changes in regulations governing the healthcare industry, including our compliance with such regulations; changes in Medicare and Medicaid payment levels and methodologies and the application of such methodologies by the government and its fiscal intermediaries; and other factors referenced or incorporated by reference in the S.E.C. filings. The risks included here are not exhaustive. All forward-looking statements represent NHC's best judgment as of the date of this release.
About NHC
NHC affiliates operate for themselves and third parties 75 skilled nursing facilities with 9,510 beds. NHC affiliates also operate 26 assisted living communities, five independent living communities, one behavioral health hospital, and 36 homecare programs. NHC's other services include Alzheimer's and memory care units, hospice services, pharmacy services, a rehabilitation services company, and providing management and accounting services to third party post-acute operators. Other information about the company can be found on our web site at www.nhccare.com.
###
Document And Entity Information |
Aug. 08, 2019 |
---|---|
Document Information [Line Items] | |
Entity Registrant Name | National HealthCare Corporation |
Document Type | 8-K |
Document Period End Date | Aug. 08, 2019 |
Entity Incorporation, State or Country Code | DE |
Entity File Number | 001-13489 |
Entity Tax Identification Number | 52-2057472 |
Entity Address, Address Line One | 100 Vine Street |
Entity Address, City or Town | Murfreesboro |
Entity Address, State or Province | TN |
Entity Address, Postal Zip Code | 37130 |
City Area Code | 615 |
Local Phone Number | 890-2020 |
Written Communications | false |
Soliciting Material | false |
Pre-commencement Tender Offer | false |
Pre-commencement Issuer Tender Offer | false |
Title of 12(b) Security | Common Stock |
Trading Symbol | NHC |
Security Exchange Name | NYSEAMER |
Entity Emerging Growth Company | false |
Entity Ex Transition Period | false |
Amendment Flag | false |
Entity Central Index Key | 0001047335 |
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