HOUSTON, Oct. 25, 2017 /PRNewswire/ -- Carriage
Services, Inc. (NYSE: CSV) today announces that its Board of
Directors has approved the increase of its quarterly cash dividend
policy for its Common Stock from 5¢ to 7.5¢ per share, effective to
payments payable on December 1, 2017
and later. The Company initiated its quarterly cash dividend policy
in May 2011.
The Company also announces that its Board of Directors declared
today the quarterly dividend of 7.5¢ per share payable on
December 1, 2017 to the holders of
its common stock of record as of November 13, 2017.
Melvin C. Payne, Chief Executive
Officer, stated, "I am very pleased to announce that our Board of
Directors increased the common share quarterly dividend to 7.5¢ per
share, a 50% increase. We have the financial flexibility to
return value to our shareholders with an annual cash dividend that
will pay out about $4.8 million, a
dividend yield of 1.2%. It's a testament to our optimism of
the future and our belief in the Good To Great Journey that
never ends. We believe that a strong and growing dividend policy
along with the improved execution of all elements of Carriage's
High Performance Culture Framework will continue to provide
long-term value creation to our shareholders," concluded Mr.
Payne.
Carriage Services is a leading provider of funeral and cemetery
services and merchandise in the United
States. Carriage operates 172 funeral homes in 28 states and
32 cemeteries in 11 states.
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SOURCE Carriage Services, Inc.