StoneMor Says Will Keep Distribution At least at $0.585 Rest of Year

StoneMor Partners L.P. (NYSE: STON) today stated that it expects to maintain its distribution of at least $0.585 per unit for the remainder of 2012 which represents a sustainable level based on current business conditions. The expected distribution equals the distribution paid in the second quarter of 2012. Commenting on the announcement, StoneMor's President and CEO, Lawrence Miller said, "We recently stated our intention to provide ongoing updates on the company's progress and to provide additional information to help investors better understand our company. Affirming our distribution is a key part of that communication strategy. Although the quarter is not over, we feel confident that, based on our results to date we will be able to maintain our distribution. 

(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.