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Service Corporation International Increases Share Repurchase Authorization to $150 Million and Declares Quarterly Cash Dividend
Date:11/12/2008

HOUSTON, Nov. 12 /PRNewswire-FirstCall/ -- Service Corporation International (NYSE: SCI), which owns and operates funeral service locations and cemeteries, today announced that its Board of Directors has increased the authorized level for repurchases of its common stock by approximately $120 million. When combined with approximately $30 million of authority remaining at the end of today under the existing program, this represents a total of $150 million of current share repurchase authority effective November 13, 2008.

The Company also announced that its Board of Directors has approved a quarterly cash dividend of four cents per share of common stock. The quarterly cash dividend announced today is payable on January 30, 2009 to shareholders of record at the close of business on January 16, 2009. While the Company intends to pay regular quarterly cash dividends for the foreseeable future, all subsequent dividends, and the establishment of record and payment dates, are subject to final determination by the Board of Directors each quarter after its review of the Company's financial performance.

Cautionary Statement on Forward-Looking Statements

The statements in this press release that are not historical facts are forward-looking statements. These forward-looking statements have been made in reliance on the "safe harbor" protections provided under the Private Securities Litigation Reform Act of 1995. These statements may be accompanied by words such as "believe," "estimate," "project," "expect," "anticipate," or "predict," that convey the uncertainty of future events or outcomes. These statements are based on assumptions that we believe are reasonable; however, many important factors could cause our actual results in the
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SOURCE Service Corporation International
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