Service Corporation International (SCI) will raise its quarterly dividend by another 10.5 percent to 21 cents per share. This comes after a 5.6 percent hike to $0.19 per share was announced earlier in 2020. This follows a 5.9 percent dividend hike by the provider of death care products in 2019 and marks 10 consecutive years of dividend increases.

The next quarterly cash dividend is payable on December 31, 2020 to shareholders of record at the close of business on December 15, 2020. The new annual dividend rate of 84 cents yields 1.7% at a stock price of $49.86.

Service Corporation International will pay an estimated $148 million in dividends to its shareholders if we include this new dividend hike. In the last ten years the dividend was raised by at least double digits eight times.

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.