Shareholder payouts continue to be alive and well at Service Corp. (NYSE:SCI). The company has declared a quarterly common stock dividend of $0.07 per share, to be dispensed on Sept. 30 to shareholders of record as of Sept. 13. That amount matches the company's previous distribution, which was paid in late June. Before that, Service Corp. paid $0.01 less, or $0.06 per share.

The firm has been a reliable dividend payer since relaunching payouts in 2005 after a more than five-year hiatus. Since that time, its distribution has climbed steadily from $0.025 per share to the present level.

The just-declared dividend annualizes to $0.28 per share. That yields 1.5% at Service Corp.'s most recent closing stock price of $19.10.

Fool contributor Eric Volkman has no position in Service Corp. Nor does The Motley Fool. 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.