Service Corporation International Increases Quarterly Cash Dividend

Rhea-AI Summary

Service Corporation International (NYSE: SCI) has announced a 10.5% increase in its quarterly cash dividend, raising it to 21 cents per share, up from 19 cents. This dividend is payable on December 31, 2020, to shareholders on record by December 15. The decision demonstrates the company's strong financial performance and commitment to returning value to shareholders. However, future dividends depend on the Board's review of the company's financial condition.

Positive

• Increased quarterly cash dividend to 21 cents per share, a 10.5% rise.
• Commitment to regular dividends reflects strong financial performance.

Negative

• Future dividends subject to Board review, indicating potential uncertainty.
• Declaration of dividends may be affected by financial condition and cash needs.

HOUSTON, Nov. 11, 2020 /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 an increase in its quarterly cash dividend to twenty-one cents per share of common stock.  This quarterly cash dividend declared today represents a 10.5% increase from the previously declared quarterly dividend of nineteen cents per share of common stock per quarter.  The quarterly cash dividend announced today is payable on December 31, 2020 to shareholders of record at the close of business on December 15, 2020.  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.

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 2019 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 deathcare products and services. At September 30, 2020, we owned and operated 1,470 funeral service locations and 483 cemeteries (of which 296 are combination locations) in 44 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. 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 - Managing Director / Corporate Communications		(713) 525-3468

 

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SOURCE Service Corporation International

FAQ

What is the new dividend amount for SCI?

The new dividend amount for Service Corporation International (SCI) is 21 cents per share.

When will the new dividend be paid?

The new dividend will be paid on December 31, 2020.

What was the previous dividend amount for SCI?

The previous dividend amount was 19 cents per share.

What are the record and payment dates for the new dividend?

The record date is December 15, 2020, and the payment date is December 31, 2020.

Is the increase in dividend sustainable for SCI?

Future dividends are subject to review by the Board, so sustainability is not guaranteed.