Edwards Lifesciences' board approves stock repurchase program, $15 million donation

By Jennifer Chiou

New York, Sept. 14 - Edwards Lifesciences Corp. said its board authorized a new share repurchase program for up to 2 million shares.

The board also approved a $15 million contribution to The Edwards Lifesciences Fund, which provides support to cardiovascular-related charitable causes.

"The new share repurchase program demonstrates our confidence in Edwards' future and enables us to offset the dilution of shares issued under our employee ownership programs," chairman and chief executive officer Michael A. Mussallem said in a news release.

Edwards Lifesciences said it plans to continue buying back shares under its existing 2 million share repurchase program launched in May 2004. Thus far, the company has repurchased 1.5 million shares for $59.8 million.

As of July 30, the company had 59.8 million shares outstanding.

The Irvine, Calif., company develops products to treat cardiovascular disease.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.