LEVITTOWN, Pa., April 24, 2013 (GLOBE NEWSWIRE) -- StoneMor Partners L.P. (NYSE:STON) announced today an increase of its cash distribution to $0.595 per unit from $0.59. The distribution is payable on May 15, 2013, to common unit holders of record as of the close of business on May 6, 2013.
"We are very happy to announce our second distribution increase in six months," said Larry Miller, President and Chief Executive Officer. "All of our growth strategies, i.e. cemetery acquisitions, funeral home acquisitions etc., have been on display of late and this distribution increase is a reflection on our ability to successfully implement these strategies."
StoneMor also announced that on May 7, 2013, at 11:00 AM EDT it will be holding a conference call to discuss financial results for the 2013 first quarter. Investors may access this call by dialing (800) 734-8583. An audio replay of the conference call will be available by calling (800) 633-8284 through 1:00 PM EDT on May 21, 2013. The reservation number for the audio replay is as follows: 21655895. The audio replay of the conference call will also be archived on StoneMor's website at www.stonemor.com.
StoneMor will also host a live webcast of this conference call. Investors may access the live webcast via the Investor Relations page of the StoneMor website under Events & Presentations.
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 92 funeral homes in 28 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.
For additional information about StoneMor Partners L.P., please visit StoneMor's website, and the Investor Relations section, at http://stonemor.com.
This press release is intended to be a qualified notice under Treasury Regulation Section 1.1446-4(b). Brokers and nominees should treat one hundred percent (100.0%) of [StoneMor's] distributions to non-U.S. investors as being attributable to income that is effectively connected with a United States trade or business. Accordingly, [StoneMor's] distributions to non-U.S. investors are subject to federal income tax withholding at the highest applicable effective tax rate.
Certain statements contained in this press release, including, but not limited to, information regarding the status and progress of StoneMor's operating activities, the plans and objectives of its management, assumptions regarding its future performance and plans, and any financial guidance provided, as well as certain information in other filings with the Securities and Exchange Commission and elsewhere, are forward-looking statements. The words "believe," "may," "will," "estimate," "continue," "anticipate," "intend," "project," "expect," "predict," and similar expressions identify these forward-looking statements. These forward-looking statements are made subject to certain risks and uncertainties that could cause StoneMor's actual results of operations to differ materially from those expressed or implied by forward-looking statements, including, but not limited to, the following: uncertainties associated with future revenue and revenue growth; the effect of the current economic downturn; the impact of StoneMor's significant leverage on its operating plans; StoneMor's ability to service its debt and pay distributions; the decline in the fair value of certain equity and debt securities held in its trusts; StoneMor's ability to attract, train and retain an adequate number of sales people; uncertainties associated with the volume and timing of pre-need sales of cemetery services and products; increased use of cremation; changes in the death rate; changes in the political or regulatory environments, including potential changes in tax accounting and trusting policies; StoneMor's ability to successfully implement a strategic plan relating to achieving operating improvement, strong cash flows and further deleveraging; StoneMor's ability to successfully compete in the cemetery and funeral home industry; uncertainties associated with the integration or the anticipated benefits of StoneMor's recent acquisitions and any future acquisitions; StoneMor's ability to complete and fund additional acquisitions; StoneMor's ability to maintain effective disclosure controls and procedures and internal control over financial reporting; the effects of cyber security attacks due to StoneMor's significant reliance on information technology; uncertainties relating to the financial condition of third-party insurance companies that fund StoneMor's pre-need funeral contracts; and various other uncertainties associated with the death care industry and StoneMor's operations in particular.
When considering forward-looking statements, the reader should keep in mind the risk factors and other cautionary statements set forth in StoneMor's Annual Report on Form 10-K filed with the Securities and Exchange Commission. Except as required by federal and state securities laws, StoneMor assumes no obligation to update or revise any forward-looking statements made herein or any other forward-looking statements made by StoneMor, whether as a result of new information, future events, or otherwise.
CONTACT: John McNamara (215) 826-2800Source:StoneMor Partners L.P.