- Service Corporation International (NYSE:SCI) Board of Directors has increased the authorized level of repurchases of its common stock by about $394 million.
- Combined with about $206 million of authority remaining under the existing program, the hike represents $600 million of current share repurchase authority.
- The board has also announced a quarterly cash dividend of $0.25 per share payable on June 30, 2022, to shareholders of record at the close of business on June 15, 2022.
- The company held $300.6 million in cash and equivalents as of March 31, 2022.
- Price Action: SCI shares are trading higher by 10.3% at $71.01 on the last check Wednesday.
