Stonemor Partners (STON) Set to Open Lower Following Distribution Cut
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StoneMor Partners L.P. Declares Temporary Reduction in Quarterly Cash Distribution and Provides Partnership Update
October 27, 2016 4:15 PM EDTTREVOSE, Pa., Oct. 27, 2016 (GLOBE NEWSWIRE) -- StoneMor Partners L.P. (NYSE: STON) (StoneMor or the Partnership) today announced a quarterly cash distribution of $0.33 per common unit for the 3rd quarter 2016. This represents a reduction of 50% from the prior year 3rd quarter. Larry Miller, President and CEO of StoneMor, commented, As previously discussed, we are working to re-grow our sales force, increasing both its quality and size. To accomplish this, we have recently engaged a national recruiting firm, increased our in-house recruiting efforts, and hired a national vice-president of sales, all of which we expect... More
