Benzinga | May 12, 2021 12:31PM EDT

Service Corporation International Increases Share Repurchase Authorization By ~$414M

Service Corporation International (NYSE:SCI), the largest provider of deathcare products and services in North America, today announced that its Board of Directors has approved a quarterly cash dividend of twenty-one cents per share of common stock. The quarterly cash dividend announced today is payable on June 30, 2021 to shareholders of record at the close of business on June 15, 2021. 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.

The Company also announced that its Board of Directors has increased the authorized level of repurchases of its common stock by approximately $414 million. When combined with approximately $86 million of authority remaining under the existing program, this represents a total of $500 million of current share repurchase authority effective today.