Stewart Enterprises

Stewart Enterprises Gives Shareholders a 14% Raise | The Dynamic Dividend:

'via Blog this'March 27, 2012

Declared

Stewart Enterprises Gives Shareholders a 14% Raise

Stewart Enterprises (STEI) announced a 14% increase to its dividend today, marking the third time the “death care” company has given its shareholders a raise since reinstating its payout in 2005.

The owner and operator of funeral homes and cemeteries declared a quarterly dividend of $0.04 per share, topping the $0.035 per share it had paid each of the previous four quarters.

Stewart suspended its dividend in 2000 when the company anticipated its earnings falling below the threshold allowed by its bank credit facility, which would have triggered a restriction on dividend payments. The company reinstated its quarterly payout at $0.025 per share in 2005, lifted it to $0.03 per share in 2009, and raised it to the aforementioned $0.035 per share last June.

Shares of STEI are currently trading at $6.17, where they now carry a 2.59% dividend yield.

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