Stewart Enterprises (STEI) Adds $25M to Buyback; Declares $0.025 Qtr. Dividend
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Stewart Enterprises, Inc. (Nasdaq: STEI) today announced that its Board has authorized a $25 million increase in its current stock buyback program. The repurchase program is now $75 million. As of June 18, 2008, the Company had repurchased 6.3 million shares at an average price of $7.32. After considering this recent authorization, the Company has approximately $29.1 million still available for stock repurchases.
Additionally, the company's Board also declared a quarterly dividend of $0.025 per Class A and B common share, payable on July 28 to shareholders of record on July 14.
Stewart Enterprises, Inc., through its subsidiaries, provides funeral and cemetery products and services for death care industry in the United States.
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