UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934

  

 

Date of Report (Date of earliest event reported) August 12, 2015 (August 12, 2015)

 

Service Corporation International
(Exact name of registrant as specified in its charter)

 

Texas 1-6402-1 74-1488375

(State or other jurisdiction 

of incorporation)

(Commission 

File Number)

(I.R.S. Employer 

Identification No.)

 

1929 Allen Parkway  Houston, Texas 77019
(Address of principal executive offices) (Zip Code)

 

Registrant’s telephone number, including area code     (713) 522-5141

 

 
(Former name or former address, if changed since last report.)

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

  

¨    Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨    Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
¨    Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
¨    Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13a-4(c))

  

 

 

 

Item 7.01 Regulation FD Disclosure

  

On August 12, 2015, Service Corporation International issued a press release announcing an increase in its share repurchase program authorizing the investment of approximately an additional $385 million, thereby increasing the total amount authorized and available for future share repurchases to $400 million.

  

On August 12, 2015, the Board of Directors declared a quarterly cash dividend of twelve cents per share of common stock. This represents a 20% increase from the previous quarterly dividend paid of ten cents per share.

  

The attached Exhibit 99.1 is not filed, but is furnished to comply with Regulation FD. The information in this Current Report on Form 8-K, including the exhibit, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.

  

 

Item 9.01 Financial Statements and Exhibits

  

(d) The following exhibit is included with this report

  

  Exhibit No.   Description
  99.1   Press Release, dated August 12, 2015 announcing share repurchase increase and declaring quarterly dividend

  

 

 

 

Signature

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

 

August 12, 2015 Service Corporation International
     
  By: /s/ Eric D. Tanzberger
    Eric D. Tanzberger
    Senior Vice President
    Chief Financial Officer and Treasurer

 

 

 

 



Exhibit 99.1

Service Corporation International Increases Share Repurchase Authorization To $400 Million And Declares Increase In Quarterly Cash Dividend

HOUSTON, Aug. 12, 2015 /PRNewswire/ -- Service Corporation International (NYSE: SCI), the largest provider of deathcare products and services in North America, today announced that its Board of Directors has increased the authorized level of repurchases of its common stock by approximately $385 million. When combined with approximately $15 million of authority remaining under the existing program, this represents a total of $400 million of current share repurchase authority effective today.

The Company also announced that its Board of Directors has approved a quarterly cash dividend of twelve cents per share of common stock. The quarterly cash dividend declared today represents a 20% increase from the previously declared dividend of ten cents per share of common stock per quarter. The quarterly cash dividend announced today is payable on September 30, 2015 to shareholders of record at the close of business on September 15, 2015. 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 future to differ materially from the forward-looking statements made herein and in any other documents or oral presentations made by, or on behalf of us. There can be no assurance that future dividends will be declared. The actual declaration of future dividends, and the establishment of record and payment dates, is subject to final determination by our Board of Directors each quarter after its review of our financial performance. Important factors which could cause actual results to differ materially from those in forward-looking statements include, among others, restrictions on the payment of dividends under existing or future credit agreements or other financing arrangements; changes in tax laws relating to corporate dividends; a determination by the Board of Directors that the declaration of a dividend is not in the best interests of the Company and its shareholders; an increase in our cash needs or a decrease in available cash; or a deterioration in our financial condition or results. For further information on these and other risks and uncertainties, see our Securities and Exchange Commission filings, including our 2014 Annual Report on Form 10-K. Copies of this document as well as other SEC filings can be obtained from our website at http://www.sci-corp.com. We assume no obligation to publicly update or revise any forward-looking statements made herein or any other forward-looking statements made by us, whether as a result of new information, future events or otherwise.

About Service Corporation International

Service Corporation International (NYSE: SCI), headquartered in Houston, Texas, is North America's leading provider of deathcare products and services. At June 30, 2015, we owned and operated 1,550 funeral homes and 467 cemeteries (of which 262 are combination locations) in 45 states, eight Canadian provinces, the District of Columbia, and Puerto Rico. Through our businesses, we market the Dignity Memorial® brand which offers assurance of quality, value, caring service, and exceptional customer satisfaction. For more information about Service Corporation International, please visit our website at www.sci-corp.com. For more information about Dignity Memorial®, please visit www.dignitymemorial.com.

For additional information contact:

Investors:

Debbie Young - Director / Investor Relations

(713) 525-9088

Media:

Marianne Gooch- Managing Director / Corporate Communications

(713) 525-9167



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