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SEI Investments (SEIC) Announces 7.5% Dividend Increase

SEI Investments Company’s SEIC board of directors has approved a hike in the semi-annual cash dividend. The new dividend of 43 cents per share represents an increase of 7.5% from the prior payout. The dividend will be paid out on Jan 5, 2023, to shareholders on record as of Dec 19, 2022.

Considering the last day’s closing price, SEIC’s dividend yield currently stands at 1.39%. The yield is attractive for income investors and represents a steady income stream.

SEIC has a record of continuously raising dividends. Prior to this hike, the company announced a dividend hike in December 2021. The amount was increased from 37 cents per share to 40 cents.

SEI Investments has raised its semi-annual dividend five times in the last five years. Also, it has a five-year annualized dividend growth rate of 6.86%. Currently, the company's payout ratio is 20% of earnings.

The company also has an efficient share repurchase plan. This June, SEI Investments increased its buyback authorization by $200 million. As of Sep 30, 2022, $172.48 million worth of shares were left to be repurchased.

Supported by its earnings strength and solid balance sheet, the company is expected to continue with efficient capital deployment activities. Through this, SEI Investments will keep enhancing shareholder value.

Over the past six months, shares of SEI Investments have gained 7.3%, outperforming 4.3% rally of the industry it belongs to.

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Currently, the company carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Dividend Hikes by Other Finance Stocks

Raymond James Financial, Inc.’s RJF board of directors has announced a quarterly cash dividend of 42 cents per share, representing an increase of 24% from the prior payout. The new dividend will be paid out on Jan 17, 2023, to shareholders on record as of Jan 3, 2023.

Raymond James has a track record of regularly raising dividends over the last decade. Prior to the recent hike, the company had announced a 31% increase in its quarterly dividend to 34 cents in December 2021.  

Bank7 Corp.’s BSVN board of directors approved a hike in the quarterly dividend. The new dividend of 16 cents per share represents a hike of 33.3% from the prior payout. The dividend will be paid out on Jan 5, 2023, to shareholders of record as of Dec 23, 2022.

This is the third consecutive annual increase in BSVN’s quarterly cash dividend. Prior to this hike, the company increased its dividend by 10% to 12 cents per share in December 2021.

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SEI Investments Company (SEIC) : Free Stock Analysis Report

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