StoneMor Partners L.P. Announces Distribution Increase and Date for Third Quarter 2012 Financial Results
October 22 2012 - 10:58AM
StoneMor Partners L.P. (NYSE:STON) announced today that the Board
of Directors of its general partner has approved an increase in its
cash distribution to $0.59 per unit from $0.585 payable on November
15, 2012, to common unitholders of record as of the close of
business on November 2, 2012.
Speaking of the increase, StoneMor President and Chief Executive
Officer Larry Miller said, "We are delighted to be able to increase
the distribution to our unitholders. Since our initial public
offering in 2004, StoneMor has increased its distribution by more
than 27.5%. It is a testament to the strength of our
underlying business, and the execution of our growth strategy."
StoneMor also announced that it plans to hold an investors'
conference call to review its third quarter results (which
will be released before this call) on Tuesday, November 6, 2012 at
11:00 a.m. Eastern Time. The conference call can be accessed by
calling (800) 630-4153. An audio replay of the conference call
will be available by calling (800) 633-8284 through 12:00 a.m.
Eastern Time on November 20, 2012. The reservation number for
the audio replay is as follows: 21609161. The audio
replay of the conference call will also be archived on StoneMor's
website at http://www.stonemor.com.
About StoneMor Partners L.P.
StoneMor Partners L.P., headquartered in Levittown,
Pennsylvania, is an owner and operator of cemeteries and funeral
homes in the United States, with 276 cemeteries and 85 funeral
homes in 28 states and Puerto Rico. StoneMor is the only publicly
traded death care company structured as a partnership. StoneMor's
cemetery products and services, which are sold on both a pre-need
(before death) and at-need (at death) basis, include: burial lots,
lawn and mausoleum crypts, burial vaults, caskets, memorials, and
all services which provide for the installation of this
merchandise.
For additional information about StoneMor Partners L.P., please
visit StoneMor's website, and the Investor Relations section, at
http://www.stonemor.com.
This press release is intended to be a qualified notice under
Treasury Regulation Section 1.1446-4(b). Brokers and nominees
should treat one hundred percent (100.0%) of [StoneMor's]
distributions to non-U.S. investors as being attributable to income
that is effectively connected with a United States trade or
business. Accordingly, [StoneMor's] distributions to
non-U.S. investors are subject to federal income tax withholding at
the highest applicable effective tax rate.
Forward-Looking Statements
Certain statements contained in this press release, including,
but not limited to, information regarding the status and progress
of the StoneMor's operating activities, the plans and objectives of
StoneMor's management, assumptions regarding StoneMor's future
performance and plans, and any financial guidance provided, as well
as certain information in other filings with the SEC and elsewhere,
are forward-looking statements within the meaning of Section 27A(i)
of the Securities Act of 1933 and Section 21E(i) of the Securities
Exchange Act of 1934. The words "believe," "may," "will,"
"estimate," "continue," "anticipate," "intend," "project,"
"expect," "predict," and similar expressions identify these
forward-looking statements. These forward-looking statements are
made subject to certain risks and uncertainties that could cause
actual results to differ materially from those stated, including,
but not limited to, the following: uncertainties associated with
the integration or the anticipated benefits of StoneMor's recent
acquisitions; uncertainties associated with future revenue and
revenue growth; the effect of the current economic downturn; the
impact of StoneMor's significant leverage on its operating plans;
the ability of StoneMor to service its debt and pay distributions;
the decline in the fair value of certain equity and debt securities
held in StoneMor's trusts; StoneMor's ability to attract, train and
retain an adequate number of sales people; uncertainties associated
with the volume and timing of pre-need sales of cemetery services
and products; increased use of cremation; changes in the death
rate; changes in political or regulatory environments, including
potential changes in tax accounting and trusting policies;
StoneMor's ability to successfully implement a strategic plan
relating to producing operating improvements, strong cash flows and
further deleveraging; StoneMor's ability to complete and fund
additional acquisitions; StoneMor's ability to maintain effective
disclosure controls and procedures and internal control over
financial reporting; the effect of cybersecurity attacks due to
StoneMor's significant reliance on information technology;
uncertainties relating to the financial condition of third-party
insurance companies that fund StoneMor's pre-need funeral
contracts; and various other uncertainties associated with the
death care industry and StoneMor's operations in particular.
When considering forward-looking statements, you should keep in
mind the risk factors and other cautionary statements set forth in
StoneMor's Annual Report on Form 10-K and its Quarterly Reports on
Form 10-Q filed with the SEC. StoneMor assumes no obligation to
publicly update or revise any forward-looking statements made
herein or any other forward-looking statements made by it, whether
as a result of new information, future events, or otherwise.
CONTACT: John McNamara
(215) 826-2800
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