Service Corporation Pops On Dividend Hike, Expanded Stock Buyback

Service Corporation Pops On Dividend Hike, Expanded Stock Buyback
  • 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.
Posted In: BriefsNewsDividendsBuybacksMoversTrading IdeasGeneral