The SEC saw an increase of more than $3 million from last year's distribution amount of $289.4 million, which was also a record high for the conference. The conference made $309.6 million in total revenue.
Each member school will receive slightly over $20.9 million in revenue distribution from the league office.
The $16.8 million of contracted revenue retained by institutions that participated in bowl games last season and the $1 million divided among all of the league's schools by the NCAA for academic enhancement aren't included in the $292.8 million that will be distributed. Neither is revenue gained by schools from local media packages.
The total amount of the distribution is composed of revenue generated from televised football, bowl games, the SEC football championship, televised basketball, the SEC men's basketball tournament, NCAA championships and a supplemental surplus distribution.
Also announcing a record revenue share on Friday was the Big 12 Conference, which reported a $220.1 million revenue distribution. The eight remaining charter members of the Big 12 each collected $1 million more than they did last year -- totaling $23 million apiece -- while second-year members TCU and West Virginia received two-thirds of the full share, or $14 million each.
Information from ESPN.com's Jake Trotter was used in this report.