LEVITTOWN, Pa., Oct. 22, 2012 (GLOBE NEWSWIRE) -- 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.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV