Stewart Enterprises (STEI) Increases Its Dividend

Stewart Enterprises (STEI) announced that they are increasing their dividend from $0.16 to $0.18 (a 12.5% increase).

Thomas M. Kitchen, President and Chief Executive Officer, said, "The Board's decision to increase the cash dividend reflects its continued confidence in our solid balance sheet, our ability to consistently generate strong cash flow, and the continued positive momentum in revenue growth. The Board last increased the dividend rate in March of 2012. This represents a 50% increase in our dividend rate in the last two years."

STEI closed yesterday (02013.04.02) at $9.24. 52-week range: $5.87 - $9.54.