UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): March 27, 2012
STEWART ENTERPRISES, INC.
(Exact name of registrant as specified in its charter)
| LOUISIANA | 1-15449 | 72-0693290 | ||
| (State or other jurisdiction of incorporation) |
(Commission File Number) |
(I.R.S. Employer Identification No.) |
1333 South Clearview Parkway
Jefferson, Louisiana 70121
(Address of principal executive offices) (Zip Code)
(504) 729-1400
(Registrant’s telephone number, including area code)
Not Applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| ¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Item 8.01 Other Events
On March 27, 2012, Stewart Enterprises, Inc. (the “Company”) issued a press release reporting that its Board of Directors increased its annual cash dividend on its Class A and Class B common stock by 14% to $0.16 per share compared to the previous $0.14 per share and declared a quarterly cash dividend. A copy of this press release is attached hereto as Exhibit 99.1 and is incorporated by reference herein.
Item 9.01 Financial Statements and Exhibits
| (d) | Exhibits |
| Exhibit |
Description | |||
| 99.1 | Press release by Stewart Enterprises, Inc. dated March 27, 2012 reporting that its Board of Directors increased its annual cash dividend by 14% to $0.16 per share and declared a quarterly cash dividend | |||
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| STEWART ENTERPRISES, INC. | ||||||
| March 27, 2012 | /s/ Angela M. Lacour | |||||
| Angela M. Lacour | ||||||
| Senior Vice President of Finance | ||||||
| and Chief Accounting Officer | ||||||
EXHIBIT INDEX
| Exhibit |
Description | |||
| 99.1 | Press release by Stewart Enterprises, Inc. dated March 27, 2012 reporting that its Board of Directors increased its annual cash dividend by 14% to $0.16 per share and declared a quarterly cash dividend | |||
Exhibit 99.1
| CONTACT: | Lewis J. Derbes, Jr. | FOR IMMEDIATE RELEASE | ||
| Stewart Enterprises, Inc. | ||||
| 1333 S. Clearview Parkway | ||||
| Jefferson, LA 70121 | ||||
| 504-729-1400 |
STEWART ENTERPRISES, INC. ANNOUNCES 14% INCREASE IN ITS QUARTERLY DIVIDEND MARKING A 60% INCREASE IN THE LAST TWO AND ONE-HALF YEARS
JEFFERSON, La.—March 27, 2012— Stewart Enterprises, Inc. (Nasdaq GS:STEI) reported today that its Board of Directors increased the annual cash dividend on its Class A and Class B Common Stock by 14% to $0.16 per share, compared to the previous $0.14 per share. As a result, the Board declared a quarterly cash dividend of $0.04 per share. The dividend is payable on April 26, 2012 to holders of record of Class A and Class B Common Stock as of the close of business on April 12, 2012. 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 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.” It is the Board’s intention to periodically re-evaluate the Company’s dividend policy for potential increases in the future. The declaration of quarterly dividends is at the discretion of the Board of Directors and will depend on the Company’s financial results, cash requirements, future prospects and other factors deemed relevant by the Board.
Founded in 1910, Stewart Enterprises, Inc. is the second largest provider of products and services in the death care industry in the United States. The Company currently owns and operates 218 funeral homes and 141 cemeteries in the United States and Puerto Rico. Through its subsidiaries, the Company provides a complete range of funeral and cremation merchandise and services, along with cemetery property, merchandise and services, both at the time of need and on a preneed basis.