Brookdale Senior Living Authorizes $100M Share Repurchase Program

Brookdale Senior Living BKD today announced that its Board of Directors has approved a share repurchase program that authorizes the Company to purchase up to $100 million in the aggregate of the Company's common stock. Bill Sheriff, Brookdale's Chief Executive Officer, said, "This repurchase authorization underscores our confidence in the long-term growth prospects of our business and our continued commitment to maximizing value for our shareholders. Our Board and senior management understand the responsibility to our shareholders to use their capital in a manner that best creates long-term shareholder value. As we examine the alternatives for deploying capital created by our positive cash flow, the repurchase of our common stock at its current price becomes an attractive use of capital, along with our other growth initiatives." The share repurchase program is intended to be implemented through purchases made from time to time using a variety of methods, which may include open market purchases, privately negotiated transactions or block trades, or by any combination of such methods, in accordance with applicable insider trading and other securities laws and regulations.