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.
On July 15, 2020, Sonoco (NYSE: SON) declared a quarterly dividend of $.43 per share, scheduled for payment on September 10, 2020, to shareholders of record by August 10, 2020.
This marks the 381st consecutive quarter of dividend payments, highlighting a strong commitment to shareholders since 1925. Sonoco has raised its dividend for 37 consecutive years, with a current yield of 3.3%, significantly above the S&P 500 Index. The company reported annualized net sales of approximately $5.4 billion and serves customers in 85 nations.
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On June 10, 2020, Sonoco (NYSE: SON) announced a subscription service for tube and core scrap returns, effective July 1, 2020, in response to fluctuations in material values and rising processing costs. This voluntary service will incur a $95 fee for new shipments when the value of old corrugated containers (OCC) drops below $90 per ton, but it will be free once OCC exceeds this threshold. The company highlighted the necessity of managing costs amid OCC volatility, stating their commitment to sustainable practices and delivering value to customers.
Sonoco (NYSE: SON) announced a 5.5% price increase for all rigid paper containers and closures in North America, effective June 8, 2020. This decision comes in response to the rising costs of recycled paperboard, a key raw material. The company, facing input cost pressures exacerbated by the COVID-19 pandemic, aims to maintain continuity of supply for customers. Sonoco, a leading producer in this segment with annualized net sales of approximately $5.4 billion, remains committed to sustainability and customer support during challenging times.
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