Service Corporation International Raises Share Buyback Authority by $472 Million to $600 Million
SCI•Service Corporation International's Board approved a $472 million increase to its share repurchase authorization, raising total buyback capacity to $600 million. The expanded program combines $472 million new authority with $128 million remaining under the existing plan for immediate common stock purchases.
1. Board Increases Share Repurchase Authorization
Service Corporation International's board approved a $472 million increase in its common stock repurchase authorization, adding to the $128 million remaining under the prior program. The raise brings total buyback capacity to $600 million, enabling immediate repurchases to support shareholder returns.
2. Strategic Capital Deployment and Cash Considerations
The enhanced $600 million authorization underscores SCI's focus on returning capital to shareholders through buybacks. Management will balance repurchase execution with maintaining sufficient liquidity for operations, subject to quarterly board review and dividend considerations.
