Stewart Enterprises, Inc.
1333 S. Clearview Parkway
Jefferson, LA 70121
504-729-1400
MARKING A 60% INCREASE IN THE LAST TWO AND ONE-HALF YEARS
JEFFERSON, La.--March 27, 2012-- Stewart Enterprises, Inc.
(Nasdaq GS:STEI) reported today that its Board of Directors
increased the annual cash dividend on its Class A and Class B
Common Stock by 14% to $0.16 per share, compared to the
previous $0.14 per share. As a result, the Board declared a
quarterly cash dividend of $0.04 per share. The dividend is
payable on April 26, 2012 to holders of record of Class A and
Class B Common Stock as of the close of business on April 12,
2012. Thomas M. Kitchen, President and Chief Executive
Officer, said, "The Board's decision to increase
the cash dividend reflects its continued confidence in our
solid balance sheet and our ability to consistently generate
strong cash flow. This represents a 60% increase in our
dividend rate in the last two and one-half years." It is
the Board's intention to periodically re-evaluate the
Company's dividend policy for potential increases in the
future. The declaration of quarterly dividends is at the
discretion of the Board of Directors and will depend on the
Company's financial results, cash requirements, future
prospects and other factors deemed relevant by the Board.
Founded in 1910, Stewart Enterprises, Inc. is the second
largest provider of products and services in the death care
industry in the United States. The Company currently owns and
operates 218 funeral homes and 141 cemeteries in the United
States and Puerto Rico. Through its subsidiaries, the Company
provides a complete range of funeral and cremation
merchandise and services, along with cemetery property,
merchandise and services, both at the time of need and on a
preneed basis.
distributed by | This press release was issued by Stewart Enterprises Inc. and was initially posted at http://media.corporate-ir.net/media_files/IROL/78/78516/dividend press release.pdf . It was distributed, unedited and unaltered, by noodls on 2012-03-27 16:38:15 PM. The issuer is solely responsible for the accuracy of the information contained therein. |