UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Carriage Services, Inc.

Delaware		1-11961		76-0423828
(State or other jurisdiction		(Commission		(IRS Employer
of incorporation)		File Number)		Identification No.)

3040 Post Oak Boulevard, Suite 300

Houston, Texas 77056

Registrant’s telephone number, including area code:

(713) 332-8400

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o   Written communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o   Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o   Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o   Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

Item 8.01 Other Events.

          On June 18, 2008, Carriage Services, Inc. (the “Company”) issued a press release announcing that its Board of Directors has approved a share repurchase program authorizing the Company to purchase up to an aggregate of $5 million of the Company’s common stock. 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. The press release is attached hereto as Exhibit 99.1, and is incorporated into this Item 8.01 by this reference.

Item 9.01 Financial Statements and Exhibits.

     (d) Exhibits

Exhibit No.		Exhibit
99.1		Press release issued by Carriage Services, Inc. dated June 18, 2008

SIGNATURE

     Pursuant to the requirements of the Securities Exchange Act of 1934, Carriage Services, Inc. has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

INDEX TO EXHIBITS

Exhibit No.		Exhibit
99.1		Press release issued by Carriage Services, Inc. dated June 18, 2008

Exhibit 99.1

		Press Release

		Contacts:		Mel Payne, Chairman & CEO Terry Sanford, CAO and Treasurer Carriage Services, Inc. 713-332-8400
FOR IMMEDIATE RELEASE
				Ken Dennard / ksdennard@drg-e.com Kip Rupp /krupp@drg-e.com DRG&E /713-529-6600

CARRIAGE SERVICES’ BOARD OF DIRECTORS
APPROVES SHARE REPURCHASE PLAN

JUNE 18, 2008 — HOUSTON — Carriage Services, Inc. (NYSE: CSV) announced today that its Board of Directors has approved the repurchase of up to an aggregate of $5 million of its common stock.

     The repurchase plan calls for the repurchases to be made in the open market or in privately negotiated transactions from time-to-time in compliance with applicable laws, rules and regulations, including Rule 10b-18 under the Securities Exchange Act of 1934, as amended, subject to market and business conditions, levels of cash generated from operations, cash requirements for acquisitions, debt covenant compliance, applicable legal requirements and other relevant factors. The plan does not obligate the Company to purchase any particular number of shares, and may be suspended or discontinued at any time.

     Commenting on the announcement, Melvin C. Payne, Carriage Services Chairman and Chief Executive Officer, stated, “Carriage’s management and Board of Directors are committed to building long-term shareholder value by executing our Strategic Portfolio Model through highly selective acquisitions, while maintaining financial flexibility and adequate liquidity. We currently have about $9 million in cash, no debt maturities until 2015 and a $35 million unused revolving credit agreement. With this announcement today, we reaffirm our confidence in the Long-Term Outlook that is included in our Company and Investment Profile dated June 2008. We therefore believe that buying in some of our shares at recent prices makes sense, as the remaining long term shareholders would own more of a company with excellent prospects over the next five years.”

     Carriage Services is a leading provider of death care services and products. As of June 18, 2008, Carriage operates 139 funeral homes in 25 states and 32 cemeteries in 11 states.

Certain statements made herein or elsewhere by, or on behalf of, the Company that are not historical facts are intended to be forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements are based on assumptions that the Company believes are reasonable; however, many important factors, as discussed under “Forward-Looking Statements and Cautionary Statements” in the Company’s Annual Report and Form 10-K for the year ended December 31, 2007, could cause the Company’s results in the future to differ materially from the forward-looking statements made herein and in any other documents or oral presentations made by, or on behalf of, the Company. The Company assumes no obligation to update or publicly release any revisions to forward-looking statements made herein or any other forward-looking statements made by, or on behalf of, the Company. A copy of the Company’s Form 10-K, and other Carriage Services information and news releases, are available at www.carriageservices.com.