Stewart Enterprises Announces Resumption of $75M Stock Repurchase

Stewart Enterprises, Inc. STEI announced today that the Company plans to resume purchases of its Class A common stock pursuant to its previously established stock repurchase program. The stock repurchase program was originally authorized in September 2007, subsequently expanded in December 2007 and June 2008, and permits the Company to spend up to $75.0 million to repurchase shares of its Class A common stock. As of July 31, 2010, $26.5 million remained available under the program. Open market purchases under the program were last made during the third fiscal quarter of 2008.