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.
Sonoco's Board has declared a quarterly dividend of $0.45 per share, payable on June 10, 2021, to shareholders on record by May 10, 2021. This marks the 384th consecutive quarter of dividends, with a history dating back to 1925. The 2.8% yield significantly exceeds the S&P 500 average. Additionally, a new $350 million share repurchase authorization has been approved, enhancing Sonoco's commitment to returning cash to shareholders while balancing investments in its core businesses.
Sonoco (NYSE: SON) has sold its U.S. Display and Packaging business to Hood Container Corporation for $80 million. The divestiture is part of Sonoco's strategy to focus on its core Consumer and Industrial packaging sectors. In 2020, the sold business generated net sales of approximately $135 million and operated 12 facilities with around 450 employees. Sonoco plans to reinvest proceeds from this sale to enhance shareholder value and support its growth initiatives.
Sonoco (NYSE: SON) announced a $50 per ton price increase for all grades of uncoated recycled paperboard (URB) in the U.S. and Canada, effective April 26, 2021. This decision is attributed to strong demand and significantly longer backlogs, along with rising input costs including freight and papermaking chemicals. The company, which has annualized net sales of approximately $5.2 billion, aims to adapt to market conditions and maintain pricing power amidst inflationary pressures.
On March 16, 2021, Sonoco ThermoSafe partnered with Unilode Aviation Solutions to enhance the maintenance, repair, and handling of their Pegasus ULD, a pioneering FAA and EASA-approved temperature-controlled container for pharmaceuticals. This collaboration aims to optimize the distribution of temperature-sensitive products globally, particularly during the COVID-19 vaccine rollout. The Pegasus ULD features advanced composite materials and a telemetry system for real-time monitoring, ensuring safe transport at reduced costs. Sonoco ThermoSafe continues to innovate in temperature assurance packaging.
Summary not available.
Sonoco (NYSE: SON) reported a fourth-quarter 2020 GAAP loss of $(0.12) per diluted share, down from $0.44 in 2019, and full-year GAAP earnings of $2.05 per share, compared to $2.88 in 2019. The fourth quarter included net after-tax charges of $0.94 per share, primarily from asset impairments and the sale of its Europe contract packaging business for $120 million. Net sales rose 5.2% to $1.38 billion, while full-year sales declined to $5.24 billion. Guidance for Q1 2021 estimates earnings between $0.80 and $0.90 per share, with full-year 2021 earnings projected between $3.40 and $3.60 per share.
Sonoco (NYSE: SON) has increased its quarterly dividend by approximately 5%, raising it to $0.45 per share from $0.43, effective March 10, 2021, for shareholders on record as of February 24, 2021. This change leads to an annual dividend payout of $1.80 per share, marking a 4.7% increase. This is the 383rd consecutive quarter the company has paid dividends, and the 38th consecutive year it has raised its dividend. The current dividend yield is approximately 3.0%, nearly double that of the S&P 500 Index, showcasing Sonoco's financial strength and commitment to shareholder value.
Summary not available.
Sonoco has announced a 6% price increase for all paperboard tubes and cores, effective March 1, 2021, in the U.S. and Canada. This decision is driven by rising costs of uncoated recycled paperboard, its main raw material, attributed to high demand and limited supply. As the largest producer of paper-based tubes and cores in North America, Sonoco aims to maintain pricing competitiveness while addressing increasing operational costs. The company's ongoing commitment to sustainability underpins its operations, with annualized net sales of approximately $5.4 billion.
Sonoco (NYSE: SON) is increasing prices for all grades of uncoated recycled paperboard (URB) by $50 per ton, effective March 1, 2021, across the United States and Canada. This decision follows the ongoing challenges of extended order backlogs at its mills and rising input costs, notably freight. Sonoco, with annual sales of approximately $5.4 billion and a workforce of 23,000, emphasizes its commitment to sustainability and its position as a leader in the packaging sector.