SEI Investments (SEIC) will raise its semi-annual dividend by 8.1 percent to 40 cents per share. This follows a dividend hike of 5.7 percent to 37 cents per share in 2020. This marks the 31st consective year of dividend increases by the investment management company.
The next SEIC cash dividend will be payable to shareholders of record on Dec. 21, 2021, with a payment date of Jan. 7, 2022. A new annualized dividend rate of 80 cents per share yields 1.4% at a stock price of $60.66. The Board of Directors of SEI Investments Company also approved an increase in its stock repurchase program by an additional $200 million, increasing the available authorization under the program to approximately $261 million.
SEI Investments Company provides investment processing, investment management and investment operations solutions. The company’s clients include corporations, financial institutions, financial advisors, and ultra-high-net-worth families. The company's business platforms include: Investment processing outsourcing platforms for providers of institutional and private-client wealth management services, including banks, trust companies, independent wealth advisers and other financial services firms; Investment management platforms for institutional investors, including retirement plan sponsors, not-for-profit organizations and affluent individual investors; and Investment operations outsourcing platforms for investment management firms, banks, family offices and investment companies that sponsor and distribute mutual funds, hedge funds and alternative investments. SEI began doing business in 1968 and became a public company in 1981. The company serves clients in the United States, Canada, the United Kingdom, continental Europe, South Africa and East Asia.