Welcome to our dedicated page for Sonoco Products news (Ticker: SON), a resource for investors and traders seeking the latest updates and insights on Sonoco Products stock.
Sonoco Products Company reports recurring developments tied to its global packaging operations, including Consumer Packaging and Industrial Paper Packaging. News commonly covers quarterly and annual results, guidance, segment performance, portfolio simplification, capital allocation and common-stock dividends.
Company updates also address pricing for uncoated recycled paperboard, tubes, cores and converted paperboard products in North America and EMEA, along with capacity investments such as paper can production and nailed wood reel manufacturing. Sonoco news frequently connects these actions to demand in food, beverage, household, personal care, pharmaceutical, industrial and infrastructure-related packaging markets.
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The Board of Directors of Sonoco (NYSE: SON) has announced a quarterly dividend increase of approximately 4%, raising the payout from $0.49 to $0.51 per share. This dividend is set to be paid on June 9, 2023, to shareholders on record as of May 10, 2023. With this increment, the annual dividend payout rises to $2.04 per share, up from $1.96. This marks the 392nd consecutive quarter of dividend payments since 1925 and the 40th consecutive year of dividend increases. The current dividend yield is approximately 3.3%, which is double that of the S&P 500 Index. Sonoco reported net sales of around $7.3 billion in 2022 and remains committed to sustainable practices.
Sonoco (NYSE: SON) has achieved How2Recycle® pre-qualification for its EnviroFlex® Paper Ultimate (ULT) 1.0, meeting the Fibre Box Association's recycling standards. This innovative, paper-based packaging offers superior protection against oxygen, moisture, and grease, making it ideal for perishable items like baked goods and snacks. Created without harmful chemicals like PFAS, EnviroFlex Paper ULT 1.0 reflects Sonoco's commitment to sustainability. This recognition will help expand its market reach while promoting responsible packaging practices. Sonoco reported net sales of approximately $7.3 billion in 2022, emphasizing its growth in sustainable solutions.
Sonoco Products Company (NYSE: SON) has sold approximately 55,000 acres of timberlands in South Carolina for $72 million in cash to Manulife Investment Management. This strategic divestiture allows Sonoco to maximize shareholder value while ensuring sustainable management of the lands. CEO Howard Coker confirmed that the company now exclusively produces paper from recycled fibers, eliminating the need for natural tree fiber. In 2022, Sonoco reported net sales of about $7.3 billion and received recognition as a leader in sustainability in the packaging sector.