HOUSTON, Nov. 8, 2023
/PRNewswire/ -- 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-nine cents per share of common
stock. The quarterly cash dividend announced today is payable
on December 29, 2023 to shareholders
of record at the close of business on December 15, 2023. 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 $477 million.
When combined with approximately $123
million of authority remaining under the existing program,
this represents a total of $600
million of current share repurchase authority effective
today.
Cautionary Statement on Forward-Looking Statements
The statements in this press release that are not historical
facts are forward-looking statements. These forward-looking
statements have been made in reliance on the "safe harbor"
protections provided under the Private Securities Litigation Reform
Act of 1995. These statements may be accompanied by words
such as "believe," "estimate," "project," "expect," "anticipate,"
or "predict," that convey the uncertainty of future events or
outcomes. These statements are based on assumptions that we
believe are reasonable; however, many important factors could cause
our actual results in the future to differ materially from the
forward-looking statements made herein and in any other documents
or oral presentations made by, or on behalf of us. There can
be no assurance that future dividends will be declared. The
actual declaration of future dividends, and the establishment of
record and payment dates, is subject to final determination by our
Board of Directors each quarter after its review of our financial
performance. Important factors which could cause actual
results to differ materially from those in forward-looking
statements include, among others, restrictions on the payment of
dividends under existing or future credit agreements or other
financing arrangements; changes in tax laws relating to corporate
dividends; a determination by the Board of Directors that the
declaration of a dividend is not in the best interests of the
Company and its shareholders; an increase in our cash needs or a
decrease in available cash; or a deterioration in our financial
condition or results. For further information on these and
other risks and uncertainties, see our Securities and Exchange
Commission filings, including our 2022 Annual Report on Form
10-K. Copies of this document as well as other SEC filings
can be obtained from our website at http://www.sci-corp.com.
We assume no obligation to publicly update or revise any
forward-looking statements made herein or any other forward-looking
statements made by us, whether as a result of new information,
future events or otherwise.
About Service Corporation International
Service Corporation International (NYSE: SCI), headquartered in
Houston, Texas, is North America's leading provider of funeral,
cemetery and cremation services, as well as final-arrangement
planning in advance, serving more than 600,000 families each year.
Our diversified portfolio of brands provides families and
individuals a full range of choices to meet their needs, from
simple cremations to full life celebrations and personalized
remembrances. Our Dignity Memorial® brand is the name families turn
to for professionalism, compassion, and attention to detail that is
second to none. At September 30, 2023, we owned and operated
1,486 funeral service locations and 489 cemeteries (of which 304
are combination locations) in 44 states, eight Canadian provinces,
the District of Columbia, and
Puerto Rico. For more information
about Service Corporation International, please visit our website
at www.sci-corp.com. For more information about Dignity Memorial®,
please visit www.dignitymemorial.com.
For additional
information contact:
|
|
|
|
|
|
Investors:
|
|
Debbie Young – Director
/ Investor Relations
|
|
(713)
525-9088
|
Media:
|
|
Jay Andrew – Assistant
Vice President / Corporate Communications
|
|
(713)
525-3468
|
|
|
|
|
|
|
View original
content:https://www.prnewswire.com/news-releases/service-corporation-international-declares-quarterly-cash-dividend-and-increases-share-repurchase-authorization-301981993.html
SOURCE Service Corporation International