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SEI Investments Declares a Double Dividend

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December 11, 2012 | Comments (0)

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Another day, another special, fiscal cliff-inspired dividend payout. On Tuesday, just before trading closed for the day, SEI Investments (NASDAQ: SEIC  ) announced 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.

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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.


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5/20/2013 11:47 AM
SEIC $30.49 Down -0.04 -0.13%
SEI Investments CAPS Rating: ***

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