Service Corporation International (NYSE: SCI) has just announced an increase in its quarterly cash dividend, signaling confidence in the company's financial position. The largest provider of deathcare products and services in North America declared a quarterly cash dividend of thirty cents per share of common stock, reflecting a 3.4% increase from the previous quarterly dividend of twenty-nine cents per share.
This decision comes as the company's shares have seen a 0.9% increase, reaching a trading price of $72.03. The dividend, payable on March 28, 2024, to shareholders of record as of March 15, 2024, underscores the company's commitment to delivering value to its shareholders.
In a statement regarding the dividend increase, Tom Ryan, the President and CEO of Service Corporation International, expressed confidence in the company's financial position, stating, "We are pleased to increase our quarterly cash dividend, which reflects our continued confidence in the long-term sustainability of our business and our ability to generate strong cash flows."
Looking ahead, the company's management remains optimistic about its outlook, with Mr. Ryan adding, "We believe that our disciplined approach to capital allocation and ongoing investments in our business will position us to continue driving long-term value for our shareholders."
Service Corporation International's full 8-K submission is available here.
| 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|---|
| Revenue (M) | $3,190 | $3,231 | $3,512 | $4,143 | $4,109 | $4,072 |
| Gross Margins | 24% | 24% | 28% | 32% | 28% | 27% |
| Net Margins | 14% | 11% | 15% | 19% | 14% | 12% |
| Net Income (M) | $447 | $370 | $516 | $803 | $565 | $491 |
| Net Interest Expense (M) | $182 | $186 | $163 | $151 | $172 | $224 |
| Depreciation & Amort. (M) | $154 | $151 | $155 | $159 | $175 | $186 |
| Diluted Shares (M) | 187 | 186 | 179 | 170 | 160 | 152 |
| Earnings Per Share | $2.39 | $1.99 | $2.88 | $4.72 | $3.53 | $3.2 |
| EPS Growth | n/a | -16.74% | 44.72% | 63.89% | -25.21% | -9.35% |
| Avg. Price | $36.64 | $41.43 | $41.65 | $55.91 | $64.49 | $72.29 |
| P/E Ratio | 14.96 | 20.41 | 14.26 | 11.67 | 18.01 | 22.31 |
| Free Cash Flow (M) | $380 | $389 | $582 | $617 | $456 | $377 |
| CAPEX (M) | $236 | $240 | $222 | $304 | $370 | $385 |
| EV / EBITDA | 12.98 | 13.34 | 11.06 | 9.78 | 15.55 | 18.34 |
| Total Debt (M) | $3,602 | $3,583 | $3,743 | $3,966 | $4,342 | $4,512 |
| Net Debt / EBITDA | 4.34 | 4.15 | 3.52 | 2.74 | 4.46 | 5.18 |
| Current Ratio | 0.6 | 0.67 | 0.46 | 0.61 | 0.45 | 0.64 |
