LEVITTOWN, Pa., Sept. 17, 2012 (GLOBE NEWSWIRE) -- StoneMor Partners L.P. (NYSE:STON) today stated that it expects to maintain its distribution of at least $0.585 per unit for the remainder of 2012 which represents a sustainable level based on current business conditions . The expected distribution equals the distribution paid in the second quarter of 2012. Commenting on the announcement, StoneMor's President and CEO, Lawrence Miller said, "We recently stated our intention to provide ongoing updates on the company's progress and to provide additional information to help investors better understand our company. Affirming our distribution is a key part of that communication strategy. Although the quarter is not over, we feel confident that, based on our results to date we will be able to maintain our distribution.
"We determine the distribution based on the operating performance of the company and the resultant Available Cash at the end of the quarter. StoneMor has consistently paid quarterly distributions since its initial public offering in September 2004 using this distribution policy and intends to continue this policy into the future. Given the solid performance this year so far and what we expect will be continued good performance, we are comfortable with affirming our distribution of at least $0.585 per unit through the end of the year.
"Lastly, it's important to remember that acquisitions have always played a large role in our ability to increase distributions and to that point the integration of our previously announced acquisition of Lohman Funeral Homes and Cemeteries is going well. As we continue the successful integration of Lohman and other acquisitions, we will strive to increase the distribution in the future," concluded Miller.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 26 states and Puerto Rico. StoneMor is the only publicly traded deathcare 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.
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