Service Corporation International Increases Quarterly Cash Dividend

Rhea-AI Summary

Service Corporation International (NYSE: SCI), a leading provider of deathcare services in North America, has announced a quarterly cash dividend increase from twenty-one cents to twenty-three cents per share, marking a 9.5% increase. This dividend is payable on September 30, 2021, to shareholders recorded by the close of business on September 15, 2021. The company intends to continue issuing dividends, though future declarations depend on the Board's review of financial performance. Risks include potential restrictions on dividend payments and changes in cash availability.

Positive

• Quarterly cash dividend increased by 9.5% to twenty-three cents per share.
• Demonstrates company confidence and commitment to returning value to shareholders.

Negative

• Future dividends depend on Board's review and financial performance.
• Potential restrictions on dividend payments due to credit agreements or cash needs.

HOUSTON, Aug. 11, 2021 /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-three cents per share of common stock.  This quarterly cash dividend declared today represents a 9.5% increase from the previously declared quarterly dividend of twenty-one cents per share of common stock per quarter.  The quarterly cash dividend announced today is payable on September 30, 2021 to shareholders of record at the close of business on September 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.

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 2020 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. We offer families exceptional service in planning life celebrations and personalized remembrances. Our Dignity Memorial® brand serves approximately 500,000 families each year with professionalism, compassion, and attention to detail. At June 30, 2021, we owned and operated 1,458 funeral service locations and 485 cemeteries (of which 297 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 - Managing Director / Corporate Communications					(713) 525-3468

 

 

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SOURCE Service Corporation International

FAQ

What is the new quarterly dividend for SCI?

The new quarterly dividend for Service Corporation International (SCI) is twenty-three cents per share.

When is the dividend payment date for SCI?

The dividend payment date for SCI is September 30, 2021.

What is the record date for the SCI dividend?

The record date for the SCI dividend is September 15, 2021.

Is the dividend increase for SCI sustainable?

The sustainability of the dividend increase is subject to the company's financial performance and the Board's review each quarter.

How does the dividend increase impact SCI's shareholders?

The dividend increase positively impacts SCI's shareholders by providing greater returns on their investments.