Carriage Services, Inc. (NYSE:CSV) Files An 8-K Results of Operations and Financial ConditionITEM 2.02RESULTS OF OPERATIONS AND FINANCIAL CONDITION.
In the press release dated October 25, 2017, Carriage Services, Inc. (“the Company”) announced and commented on its financial results for its quarter ended September 30, 2017. A copy of the press release issued by the Company is attached hereto as Exhibit 99.1 and incorporated by this reference. The information being furnished under Item 9.01 Financial Statements and Exhibits, including the press release attached hereto as Exhibit 99.1, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to liabilities of that Section.
The Company’s press release dated October 25, 2017 contains non-GAAP financial measures. Generally, a non-GAAP financial measure is a numerical measure of a company’s performance, financial position, or cash flows that either excludes or includes amounts that are not normally excluded or included in the most directly comparable measure calculated and presented in accordance with United States generally accepted accounting principles, or GAAP. to the requirements of Regulation G, the Company has provided quantitative reconciliations within the press release of the non-GAAP financial measures to the most directly comparable GAAP financial measures.
ITEM 8.01OTHER EVENTS
On October 25, 2017, the Company’s Board of Directors approved a $15.0 million increase in its previously authorized share repurchase program for repurchases of the Company's common stock. Currently, as increased, the Company now may purchase up to $26.0 million of its common stock. The share repurchase program is in accordance with Rule 10b-18 of the Exchange Act. Subject to applicable rules and regulations, the shares may be purchased from time to time in the open market or in privately negotiated transactions. Such purchases will be at times and in amounts as the Company deems appropriate, based on factors such as market conditions, legal requirements and other business considerations.
On October 25, 2017, the Company issued a press release announcing that its Board of Directors approved this $15.0 million increase in its authorization for repurchases of the Company's common stock. A copy of the press release is attached as Exhibit 99.2 to this Current Report on Form 8-K.
On October 25, 2017, the Company issued a press release announcing that its Board of Directors has approved the increase of its quarterly cash dividend policy for its common stock from $0.05 per share to $0.075 per share, effective to payments payable on December 1, 2017 and later. A copy of the press release is attached to this Current Report on Form 8-K as Exhibit99.3
ITEM 9.01FINANCIAL STATMENTS AND EXHIBITS.
(d) Exhibits. The following are furnished or filed as part of this current report on Form 8-K:
CARRIAGE SERVICES INC ExhibitEX-99.1 2 pressrelease-q32017.htm EXHIBIT 99.1 Exhibit CARRIAGE SERVICES ANNOUNCES THIRD QUARTER 2017 RESULTS AND RAISES ROLLING FOUR QUARTER OUTLOOK HOUSTON – October 25,…To view the full exhibit click here
About Carriage Services, Inc. (NYSE:CSV)
Carriage Services, Inc. is a provider of death care services and merchandise in the United States. The Company operates in two business segments: Funeral Home Operations and Cemetery Operations. The Funeral Homes segment provides funeral services (traditional burial and cremation) and sells related merchandise, such as caskets and urns. Its cemetery products and services include interment services, the rights to interment in cemetery sites (primarily grave sites, mausoleum crypts and niches) and related cemetery merchandise, such as memorials and vaults. It serves suburban and rural markets. It provides funeral and cemetery services and products on both at-need (time of death) and preneed (planned prior to death) basis. It also maintains trusts in connection with funeral home and cemetery operations, including preneed funeral trusts, preneed cemetery merchandise and service trusts and cemetery perpetual care trusts. It operates approximately 167 funeral homes and 32 cemeteries.