Service Corporation International (SCI) will raise its quarterly dividend by 5.6 percent to $0.19 per share in 2020. This follows a 5.9 percent dividend hike by the provider of death care products last year.

The quarterly cash dividend announced today is payable on March 31, 2020 to shareholders of record at the close of business on March 13, 2020. The new annual dividend rate of 76 cents yields 1.5% at a stock price of $52.53 and 2019 marks the 10th consecutive year of dividend increases by the company.

Service Corporation International is a provider of deathcare products and services, with a network of funeral homes and cemeteries. The company's funeral service and cemetery operations consist of funeral service locations, cemeteries, funeral service/cemetery combination locations, crematoria, and related businesses. It sells cemetery property, and funeral and cemetery merchandise and services. The company is known for our Dignity Memorial brand, North America's first transcontinental brand of deathcare products and services. Our other brands include Dignity Planning, National Cremation Society, Advantage Funeral and Cremation Services, Funeraria del Angel, Making Everlasting Memories, Neptune Society and Trident Society. SCI conducts both funeral and cemetery operations in the United States and Canada. The company was founded in 1962 and is headquartered in Houston, Texas.