Tuesday, March 27, 2012

Stewart Enterprises Ups Its Dividend

Stewart Enterprises (STEI) announced today (02012.03.27) that they are increasing their dividend by 14%. I don't buy stocks for yield, but many people do.
Thomas M. Kitchen, President and CEO, said, "The Board's decision to increase the cash dividend reflects its continued confidence in our solid balance sheet and our ability to consistently generate strong cash flow. This represents a 60% increase in our dividend rate in the last two and one-half years."

STEI closed yesterday (02012.03.26) at $6.21. 52-week range: $4.92 - $8.39. The new dividend at STEI's current price is an approximate yield of 2.58%.

I've blogged before STEI's high SIR (Short Interest Ratio) and right now it's at 35.8.

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