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Service Corporation International Increases $200M Share Repurchase
Posted February 8, 2012
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HOUSTON -- Service Corporation International (NYSE: SCI), the largest provider of deathcare products and services in North America, today announced that its Board of Directors has increased the authorized level of repurchases of its common stock by approximately $120 million. When combined with approximately $80 million of authority remaining under the existing program, this represents a total of $200 million of current share repurchase authority effective today.
The Company also announced that its Board of Directors has approved a quarterly cash dividend of five cents per share of common stock. The quarterly cash dividend announced today is payable on April 30, 2012 to shareholders of record at the close of business on April 13, 2012. 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.
About Service Corporation International
Service Corporation International (NYSE: SCI), headquartered in Houston, Texas, is North America's leading provider of deathcare products and services. At December 31, 2011, we owned and operated 1,423 funeral homes and 374 cemeteries (of which 214 are combination locations) in 43 states, eight Canadian provinces, the District of Columbia and Puerto Rico. Through our businesses, we market the Dignity Memorial® brand which offers assurance of quality, value, caring service, and exceptional customer satisfaction. For more information about Service Corporation International, please visit our website at www.sci-corp.com.
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