HOUSTON, May 12, 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 a quarterly cash dividend of twenty-one cents per share of common stock.
The quarterly cash dividend announced today is payable on
June 30, 2021 to shareholders of
record at the close of business on June
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.
The Company also announced that its Board of Directors has
increased the authorized level of repurchases of its common stock
by approximately $414 million.
When combined with approximately $86
million of authority remaining under the existing program,
this represents a total of $500
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 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 March 31, 2021, SCI owned and operated 1,461 funeral
homes and 484 cemeteries (of which 296 are combination operations)
in 44 states, eight Canadian provinces, the District of
Columbia, and Puerto Rico. Please visit us
at www.SCI-Corp.com and 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