Service Corporation International Stock In Focus After Slide, Dividend Hike and $600M Buyback
Service Corporation International slid back into focus for investors after shares took another step down at the same time as a series of headlines on shareholder returns. SCI lost 3.9% to close at $73.96 on June 15, according to GuruFocus. The stock was trading at $74.82 Tuesday, recovering from the previous close, and moving between $73.90 and $75.02 through the session. Dividend growth is still the bright spot for SCI. In a June 16 piece, Kalkine Media pointed to the company’s new dividend increase and steady payout growth, which tracks with SCI’s funeral, cemetery and cremation businesses. SCI said back on May 6 that its board had hiked the quarterly cash dividend to $0.36 per share from $0.34, up 6%, with the payout going out June 30.
