Service Corporation International Increases Share Repurchase Authorization to $200 Million and Declares Quarterly Cash Dividend of $0.05/Share
Service Corporation International (NYSE: SCI), today announced that its Board of Directors has increased the authorized level of repurchases of its common stock by approximately $120 million. When combined with approximately $80 million of authority remaining under the existing program, this represents a total of $200 million of current share repurchase authority effective today.
The Company also announced that its Board of Directors has approved a quarterly cash dividend of five cents per share of common stock. The quarterly cash dividend announced today is payable on April 30, 2012 to shareholders of record at the close of business on April 13, 2012. While the Company intends to pay regular quarterly cash dividends for the foreseeable future, all subsequent dividends, and the establishment of record and payment dates, are subject to final determination by the Board of Directors each quarter after its review of the Company's financial performance.
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