KING OF PRUSSIA, Pa., Nov. 15, 2017 /PRNewswire/ -- Universal Health Services, Inc. (NYSE: UHS) announced today that its Board of Directors authorized a $400 million increase to its stock repurchase program. This authorization will increase the aggregate authorization to $1.2 billion from the previous $800 million authorization which was approved in 2014 and 2016. Since the inception of this program we have repurchased approximately 6.9 million shares at an aggregate cost of approximately $786.5 million. Pursuant to this program we may purchase shares of our Class B Common Stock, from time to time as conditions allow, on the open market or in negotiated private transactions.
The Board of Directors also voted to pay a cash dividend of $0.10 per share on December 15, 2017 to shareholders of record as of December 1, 2017.
Universal Health Services (NYSE: UHS) is one of the largest and most respected hospital management companies in the nation. For nearly 40 years, UHS and its affiliates have focused on meeting patients' healthcare needs across hundreds of local communities. Today, UHS subsidiaries own and/or operate more than 320 acute care hospitals and behavioral health inpatient facilities in 37 states, Washington, D.C., the United Kingdom, Puerto Rico, and the U.S. Virgin Islands. For additional information on the Company, visit our web site: http://www.uhsinc.com.
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SOURCE Universal Health Services, Inc.
Steve Filton, Chief Financial Officer, 610-768-3300