Funeral provider Stewart Enterprises Inc. said Wednesday it is resuming purchases of its own stock.

Jefferson-based Stewart originally approved the program in September 2007 and expanded it in December 2007 and June 2008. It permits the company to spend up to $75 million to repurchase shares of its common stock.

The company said it has $26.5 million remaining for the program. Stewart last bought stock in its third fiscal quarter of 2008.

Shares of Stewart rose a penny to $5.06 in afternoon trading.

Source: Businessweek.com