Stewart Enterprises raises annual dividend 20 pct

Stewart Enterprises increases annual dividend to 12 cents from 10 cents

• On 7:15 pm EDT, Wednesday September 16, 2009

JEFFERSON, La. (AP) -- Stewart Enterprises Inc., owner and operator of funeral homes and cemeteries, raised its annual dividend by 20 percent to 12 cents from 10 cents per share.

The next quarterly dividend of 3 cents is payable on Oct. 29 to shareholders of record as of Oct. 14.

CEO Thomas Crawford said the increase reflects confidence in "our solid balance sheet and the ability of the company to continue to generate strong cash flow."

Stewart's shares closed Wednesday up 7 cents at $5.23.