Service Corporation Pops On Dividend Hike, Expanded Stock Buyback

by Shivani Kumaresan, Benzinga Staff Writer

November 2, 2022 3:09 PM | 1 min read | Make a Comment

Service Corporation International SCI Board of Directors has approved an increase in its quarterly cash dividend to $0.27 per share.
The dividend represents an 8% increase from the previously declared quarterly dividend of $0.25.
The raised cash dividend is payable on December 30, 2022, to shareholders of record on December 15, 2022.
The company also increased the authorized level of repurchases of its common stock by approximately $350 million.
When combined with $250 million of authority remaining under the existing program, this represents a total of $600 million of current share repurchase authority effective today.
Service Corporation held $209.7 million in cash and equivalents as of June 30, 2022.
Price Action: SCI shares are trading higher by 10.40% at $67.51 on the last check Wednesday.