PARK LAWN CORP ORD - PRRWF STOCK NEWS

Park Lawn Corporation has announced its agreement to acquire assets from Farris Funeral Service in Virginia, including one stand-alone funeral home and a cemetery. The transaction, expected to close in August 2022, will enhance PLC's presence in the southeastern U.S. with approximately US$1,150,000 added to Adjusted EBITDA. Farris has over 70 years of service in the community, and the acquisition aligns with PLC's growth strategy. Regulatory approval is pending for the deal.

Park Lawn Corporation has declared a quarterly dividend of $0.114 per share, payable on July 15, 2022, to shareholders on record as of June 30, 2022. The company offers a Dividend Reinvestment Plan (DRIP) enabling eligible shareholders to reinvest their dividends into additional shares at a discount of 3%. Shareholders must enroll by the fifth business day before the record date. Park Lawn operates in the memorial services sector across Canada and the U.S., providing pre-need and at-need services related to human remains.

Park Lawn Corporation has completed its acquisition of substantially all assets from Hudson Funeral Home in Durham, North Carolina. This acquisition enhances Park Lawn's presence in North Carolina, positioning it in a high-growth market. The former owners, Tommy and Mary Hudson, expressed confidence in Park Lawn's commitment to excellence in service. Park Lawn operates across three Canadian provinces and sixteen U.S. states, providing various memorialization services.

Park Lawn Corporation held its Annual and Special Meeting of Shareholders on June 1, 2022, with 22,773,765 shares represented, accounting for approximately 66.97% of the total. All eight directors were re-elected, receiving over 88% of votes in favor. Additionally, shareholders supported the reappointment of KPMG LLP as auditors and approved an increase in shares for the Second Amended Equity Incentive Plan by 700,000 shares. CEO Brad Green expressed gratitude for shareholder support and reaffirmed commitment to achieving growth targets by 2026.

Park Lawn Corporation reported Q1 2022 results, showcasing 17.5% growth in net revenue to $83.2 million compared to Q1 2021. Net earnings rose by 12.9% to $8.7 million, with a net margin of 10.5%. Adjusted EBITDA increased 11.8% to $21.4 million but saw a decline in adjusted EBITDA margin to 25.7%. The company completed the acquisition of Chancellor Funeral Home and Garden of Memories and plans to acquire Hudson Funeral Home in June 2022. CEO J. Bradley Green noted improved operating performance despite a slight drop in call volume, offset by higher average revenue per call.

Park Lawn Corporation has announced its acquisition of Hudson Funeral Home & Cremation Services in Durham, North Carolina, expected to close by early June 2022, pending regulatory approval. This acquisition will add one standalone funeral home, generating 341 calls annually and is projected to contribute approximately US$832,000 in Adjusted EBITDA. For 2021, PLC reported an Adjusted EBITDA of US$76,284,577 and net earnings of US$27,812,866. This transaction aligns with PLC's strategic goal to enhance its presence in high-growth markets.

Park Lawn Corporation (TSX: PLC) will release its Q1 2022 financial results on May 12, 2022. A conference call is scheduled for May 13, 2022, at 9:30 a.m. EST to discuss these results. Interested participants can join by dialing toll-free 888-506-0062 with Conference ID 367158. Park Lawn Corporation offers services related to the disposition and memorialization of human remains, operating in three Canadian provinces and sixteen U.S. states.

Park Lawn Corporation has announced the successful acquisition of Chancellor Funeral Home and Garden of Memories, enhancing its footprint in Mississippi. This acquisition includes a stand-alone funeral home and a combination funeral home and cemetery property in Byram and Florence. Bill Chancellor, former owner, expressed enthusiasm about joining Park Lawn, which aims to improve client service. CEO J. Bradley Green emphasized shared values and commitment to the local community, marking a strategic growth move for Park Lawn's operations across the U.S. and Canada.

Park Lawn Corporation has announced a definitive agreement to acquire assets from Chancellor Funeral Home and Garden of Memories in Mississippi. This includes one stand-alone funeral home and a combination funeral home and cemetery, expected to close in April 2022, pending regulatory approval. The deal will add approximately US$1.25 million in EBITDA and is financed by PLC’s credit facility and cash. This acquisition aims to strengthen PLC's presence in the Jackson area, further enhancing its portfolio.