StoneMor Partners L.P. Announces Distribution, Date of Conference Call and Webcast to Discuss 2015 Fourth Quarter and Full Ye...
January 26 2016 - 5:17PM
StoneMor Partners L.P. (NYSE:STON)
(“StoneMor” or the “Partnership”) today announced
a quarterly cash distribution of $0.66 per common unit for the 4th
quarter 2015. The distribution represents a 5% increase over the
prior year 4th quarter. The distribution is payable on February 12,
2016 to common unit holders of record as of the close of business
on February 5, 2016.
Commenting on the distribution announcement, Larry Miller,
StoneMor’s President and CEO, said, “I’d like to thank our
employees for an excellent calendar year 2015, as their efforts
allowed us to significantly expand our business and grow our cash
distributions to unprecedented levels. We look forward to
continuing to provide our unit holders with stable and predictable
cash distributions that are consistent with our long-term growth
strategy. As we begin 2016, we are excited about our opportunities
for cash flow growth, both organically and through acquisitions. In
addition, with our trust funds increasing as a source of value and
cash flow to our organization, we have retained Cambridge
Associates, a leading advisor to pensions, foundations and
endowments, private wealth, and corporate and government entities
as our new investment advisor. We believe that Cambridge will
assist us in maximizing the value we derive from the nearly $800
million we have in these trusts for years to come. We’ll continue
to contemplate further distribution increases as our cash flow
grows throughout calendar year 2016. We are confident in our
strategy, and look forward to the continued execution of our
business plan.”
StoneMor plans to hold an investors' conference call to discuss
its 2015 fourth quarter and full year financial results (which will
be released before this call) on Monday, February 29, at 11:00 AM
ET. The conference call can be accessed by calling (800) 256-8282.
An audio replay of the conference call will be available by calling
(800) 633-8284 through 12:00 PM ET on March 14, 2016. The
reservation number for the audio replay is: 21804014. The audio
replay of the conference call will also be archived on StoneMor's
website at www.stonemor.com.
StoneMor will also host a live webcast of this conference call.
Investors may access the live webcast via the Investors page of the
StoneMor website under Events & Presentations.
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 307 cemeteries and 105 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.
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.
Cautionary Note Regarding
Forward-Looking Statements
This press release contains
forward-looking statements that involve a number of assumptions,
risks and uncertainties that could cause actual results to differ
materially from those contained in the forward-looking statements.
The Partnership cautions readers that any forward-looking
information is not a guarantee of future performance. Such
forward-looking statements include, but are not limited to,
statements about future financial and operating results, resource
and production potential, the Partnership’s plans, objectives,
expectations and intentions and other statements that are not
historical facts. Risks, assumptions and uncertainties that could
cause actual results to materially differ from the forward-looking
statements include, but are not limited to, those associated with
general economic and business conditions; the Partnership’s ability
to realize the anticipated benefits of its acquisitions; the
Partnership’s level of indebtedness; changes in government
environmental policies and other environmental risks; tax
consequences of business transactions; and other risks, assumptions
and uncertainties detailed from time to time in the Partnership’s
reports filed with the U.S. Securities and Exchange Commission,
including quarterly reports on Form 10-Q, reports on Form 8-K and
annual reports on Form 10-K. Forward-looking statements speak only
as of the date hereof, and the Partnership assumes no obligation to
update such statements, except as may be required by applicable
law.
John McNamara
Director - Investor Relations
StoneMor Partners L.P.
(215) 826-2945
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