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Service Corporation International Authorizes Stock Repurchase
HOUSTON, July 24 /PRNewswire/ -- Service Corporation International (NYSE: SRV) ("SCI"), the world's largest funeral and cemetery company, today announced that it has reinstated its previously authorized share repurchase program. The authorization allows for the company to purchase up to 5 million shares of its own common stock from time to time in the open market or in privately negotiated transactions.
In making the announcement, R.L. Waltrip, Chairman of the Board, said that the Board of Directors believes that the shares of the company's common stock are a good value and represent an attractive investment opportunity.
As of June 30, 1998, SCI affiliates operated 3,292 funeral service locations, 422 cemeteries and 174 crematoria. SCI provides funeral and cemetery services in 18 countries on five continents.
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