SEI Investments Company SEIChas announced impressive capital deployment plans. The company’s board of directors authorized an additional $200-million share buyback plan. This, thus, increased the repurchase authorization to around $223 million. In 2018, the company has already repurchased shares worth $147.
6 million.Further, SEI Investments has announced its semi-annual dividend. The dividend of 30 cents will be paid on Jun 22, to the shareholders of record as of Jun 14.
Considering last day’s closing price of $65.13 per share, the dividend yield is currently 1.84%. Notably, the company has been increasing dividend annually since 2009. In December 2017, the company hiked its dividend by 7.1%.
Given the solid liquidity position, along with lower debt/equity and dividend payout ratios than its peers, SEI Investments is expected to sustain its capital-deployment activities, thereby continuing to enhance shareholder value.
Driven by impressive capital-deployment activities and continued growth in revenues, the stock has rallied 28.5% in the past year, outperforming 14.8% growth for the industry.