SANTA BARBARA, Calif.--(BUSINESS WIRE)--Mentor Corporation (NYSE:MNT), a leading supplier of aesthetic medical products in the United States and internationally, today announced that its Board of Directors increased the number of shares of Mentor common stock authorized for repurchase under the Company's existing share purchase program by 5 million shares, bringing the total number of shares authorized for future repurchases under this program to 5.9 million shares. Under the terms of the program going forward, the Company is authorized to repurchase up to $200 million worth of shares of its common stock as market conditions permit. The Company’s Credit Agreement, as amended, permits repurchases of our equity securities up to $400 million after March 30, 2007. As of March 31, 2007, the Company had approximately 42.4 million shares of common stock outstanding. Since that date, the Company has purchased approximately 3.9 million shares at prices averaging in excess of $40 per share.
