SEI Investments Declares a Double Dividend

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.

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