Welcome to our dedicated page for Sonoco Prod news (Ticker: SON), a resource for investors and traders seeking the latest updates and insights on Sonoco Prod 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.
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.
Sonoco (NYSE: SON) announced a significant upgrade to its Hartsville wastewater treatment facility aimed at reducing carbon emissions. The treatment process, initiated in the 1950s, now includes new biogas equipment developed in partnership with GreenGasUSA, converting methane into pipeline-quality renewable natural gas. This initiative is expected to cut greenhouse gas emissions by 8,000 metric tons annually and provide renewable energy to South Carolina. With a commitment to sustainability, Sonoco aims to reduce absolute scope 1 and 2 emissions by 25% by 2030, aligning with the Paris Climate Agreement.
Sonoco Products Company (NYSE: SON) has updated its first-quarter 2023 earnings guidance, forecasting base earnings of $1.30 to $1.40 per diluted share, exceeding previous estimates of $1.15 to $1.25. This positive revision is attributed to improved productivity, lower input costs, and higher demand in certain markets. Sonoco will release detailed financial results on May 1, 2023, followed by a conference call on May 2, 2023, at 8:30 a.m. ET. Founded in 1899, Sonoco reported net sales of approximately $7.3 billion in 2022 and is recognized for its commitment to sustainable packaging solutions.
Sonoco (NYSE: SON) announces that Elizabeth Rhue, Vice President of Global Environmental, Sustainability, & Technical Services, has been recognized in Waste360's 2023 40 Under 40 awards. This accolade highlights her contributions in sustainability and waste management over her 18-year tenure at Sonoco. Rhue has been instrumental in advancing the company’s sustainability strategies, including zero landfill initiatives. Sonoco emphasizes its commitment to global sustainable packaging and recognizes her leadership as crucial for achieving sustainability goals. The awards ceremony will be held at WasteExpo, May 1-4, 2023, in New Orleans.
Sonoco (NYSE: SON) has declared a quarterly dividend of $0.49 per share, payable on March 10, 2023, to shareholders of record by February 22, 2023.
This marks the 391st consecutive quarter of dividend payments, a record dating back to 1925. The company has increased its dividend for 39 consecutive years, showcasing strong financial performance and commitment to returning value to shareholders. The last dividend increase occurred in March 2022, with further adjustments expected to be discussed in the April board meeting.
Sonoco Products Company (NYSE: SON) reported record financial results for the fourth quarter and full year 2022, highlighted by a 16% revenue increase in Q4 and a 30% annual growth in net sales, reaching $7.3 billion, driven by strategic pricing and successful acquisitions, including Metal Packaging. GAAP earnings per share (EPS) rose by 48% in Q4 to $0.98 and by 65% for the full year to $4.72. The company also reaffirmed its commitment to ESG initiatives. Although cash flow from operating activities improved, total debt rose significantly due to acquisition financing. Guidance for Q1 2023 estimates base EPS between $1.15 to $1.25.
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Sonoco (NYSE: SON), a leading global sustainable packaging company, has announced significant upcoming investor events. The Fourth Quarter and Full Year 2022 Earnings Call is scheduled for February 9, 2023, with a press release set to be issued on February 8, 2023. Additionally, Sonoco will present at the Bank of America Global Agriculture & Materials Conference on March 1, 2023, and will engage in one-on-one meetings with investors. On March 14, 2023, Sonoco will participate in the NYSE Materials Virtual Investor Access Day, offering further one-on-one meeting opportunities.
Founded in 1899, Sonoco generated approximately $5.6 billion in net sales in 2021, emphasizing its commitment to sustainability.