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SEI Investments Declares a Double Dividend

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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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Rich Smith

I love things that go "boom." Sonic or otherwise, that means I tend to gravitate towards defense and aerospace stocks. But to tell the truth, over the course of a dozen years writing for The Motley Fool, I have covered -- and continue to cover -- everything from retailers to consumer goods stocks, and from tech to banks to insurers as well. Follow me on Twitter or Facebook for the most important developments in defense & aerospace news, and other great stories besides.

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11/25/2015 3:59 PM
SEIC $54.30 Up +0.03 +0.00%
SEI Investments CAPS Rating: ****