Service Corp. raises share repurchase authorization, quarterly dividend
Service Corporation International announced that its Board of Directors has increased the authorized level of repurchases of its common stock by approximately $298M. When combined with approximately $102M of authority remaining under the existing program, this represents a total of $400M of current share repurchase authority effective today. The Company also announced that its Board of Directors has approved an increase in its quarterly cash dividend to 17c per share of common stock. This quarterly cash dividend declared represents a 13.3% increase from the previously declared quarterly dividend of 15c per share of common stock per quarter. The quarterly cash dividend announced is payable on March 30 to shareholders of record at the close of business on March 15.