SERVICE CORPORATION INTERNATIONAL DECLARES QUARTERLY CASH DIVIDEND AND INCREASES SHARE REPURCHASE AUTHORIZATION

Rhea-AI Summary

Service Corporation International (NYSE: SCI), North America's largest deathcare products and services provider, has announced two significant shareholder-focused initiatives. The company declared a quarterly cash dividend of $0.32 per share, payable on June 30, 2025, to shareholders of record as of June 13, 2025. Additionally, SCI's Board of Directors has increased its share repurchase authorization by $528 million, which, combined with the existing $72 million authority, brings the total current share repurchase authorization to $600 million effective immediately.

Positive

• Board approved quarterly dividend of $0.32 per share, demonstrating commitment to shareholder returns
• Significant increase in share repurchase authorization by $528 million, bringing total to $600 million
• Company indicates intention to maintain regular quarterly dividends for foreseeable future

Negative

• Future dividends subject to Board's quarterly review and financial performance
• Company notes potential risks and uncertainties that could affect future dividend payments

News Market Reaction

+2.18%

1 alert

+2.18% News Effect

On the day this news was published, SCI gained 2.18%, reflecting a moderate positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

HOUSTON, May 6, 2025 /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 thirty-two cents per share of common stock.  The quarterly cash dividend announced today is payable on June 30, 2025 to shareholders of record at the close of business on June 13, 2025.  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 $528 million.  When combined with approximately $72 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 2024 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 March 31, 2025, we owned and operated 1,489 funeral service locations and 496 cemeteries (of which 309 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:		Trey Bocage – Director / Investor Relations			(713) 525-3454
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-302447417.html

SOURCE Service Corporation International

FAQ

What is the dividend amount announced by SCI stock for Q2 2025?

Service Corporation International announced a quarterly cash dividend of $0.32 per share, payable on June 30, 2025, to shareholders of record as of June 13, 2025.

How much did SCI increase its share repurchase authorization in May 2025?

SCI increased its share repurchase authorization by $528 million, which combined with the existing $72 million, brings the total authorization to $600 million.

When is the ex-dividend date for SCI's Q2 2025 dividend?

While the record date is June 13, 2025, and the payment date is June 30, 2025, the specific ex-dividend date was not mentioned in the press release.

What are the conditions for future dividend payments by Service Corporation International?

Future dividends are subject to final determination by the Board of Directors each quarter after reviewing the company's financial performance, despite the company's intention to pay regular quarterly dividends.