SEI Investments Declares a Double Dividend

Before you go, we thought you'd like these...
Before you go close icon

Another day, another special, fiscal cliff-inspired dividend payout. On Tuesday, just before trading closed for the day, SEI Investmentsannounced that on Dec. 28, it will pay out an increased regular quarterly dividend of $0.16 per share, and also a special, one-time dividend of $0.32 per share. Both payments will be to shareholders of record as of Dec. 21.

In addition, SEIC added $50 million to its stock repurchase authorization, increasing the total amount of stock it is authorized to buy back to approximately $100 million. SEIC noted in a statement that since the beginning of 2012, it has already repurchased approximately 7.1 million shares at an approximate cost of $146 million.

Shares of SEIC closed for the day up 2% at $22.45.

The article SEI Investments Declares a Double Dividend originally appeared on Fool.com.

Fool contributor Rich Smith and The Motley Fool have no positions in the stocks mentioned above. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

Copyright © 1995 - 2012 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.

Read Full Story

Want more news like this?

Sign up for Finance Report by AOL and get everything from business news to personal finance tips delivered directly to your inbox daily!

Subscribe to our other newsletters

Emails may offer personalized content or ads. Learn more. You may unsubscribe any time.

From Our Partners