Proceeding with its strategy of consistently enhancing
SEI Investments Co.
) announced new capital deployment plans. Apart from raising its
semi-annual dividend, the company also increased its share
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SEI Investments declared a semi-annual dividend of 20 cents per
share, up 25% from the previous amount. The dividend will be paid
on Jun 25 to shareholders of record as of Jun 17.
Since 2008, SEI Investments has increased its dividend every
year. The last rise was in Dec 2012 when the company hiked its
semi-annual dividend 6.7% to 16 cents per share. Further, in the
same month, the company had announced a special cash dividend of
Along with the dividend rise, SEI Investments increased its share
buyback program. The company raised its share repurchase
authorization by $100 million, thus making the total buyback
authorization $139 million.
Till date, SEI Investments has repurchased 1.8 million shares
worth about $52.2 million, including 1.3 million shares at an
average price of $28.54 per share during first-quarter 2013.
Moreover, in 2012, the company repurchased approximately 7.5
million shares worth $155.3 million. During 2012, the company
returned about $290.6 million to shareholders through dividend
payments and share buybacks.
Apart from SEI Investments, other investment managers that
increased their dividends include
Ameriprise Financial, Inc.
Legg Mason Inc.
). Invesco hiked its cash dividend by 30% to 22.5 cents per
share, Legg Mason 18.0% to 13 cents and Ameriprise 15.6% to 52
We believe that the latest boost in SEI Investments's dividend
reflects its commitment to return value to shareholders through
its strong cash generation capabilities. Moreover, the company
has healthy capital and liquidity levels.
Currently, SEI Investments carries a Zacks Rank #3 (Hold).