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Sonoco Increases Quarterly Stock Dividend for 41ˢᵗ Consecutive Year
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Neutral)
Tags
dividends
Rhea-AI Summary
Sonoco (SON) has announced an increase in its quarterly stock dividend to $0.52 per share, marking the 41st consecutive year of dividend growth. The new dividend will be paid on June 10, 2024, to shareholders of record as of May 10, 2024. Sonoco's annualized dividend payout now stands at $2.08 per share, reflecting the company's commitment to rewarding shareholders. Howard Coker, President and CEO, highlighted the long-standing history of dividend payments dating back to 1925, showcasing the company's stability and shareholder value. The dividend yield of approximately 3.6% surpasses the S&P 500 Index, offering investors an attractive return.
Positive
Sonoco (SON) increases its quarterly stock dividend to $0.52 per share.
This marks the 41st consecutive year of dividend growth for the company.
The new dividend will be paid on June 10, 2024, to shareholders of record as of May 10, 2024.
Sonoco's annualized dividend payout reaches $2.08 per share.
Howard Coker, President and CEO, emphasizes the company's long history of dividend payments dating back to 1925.
The dividend yield of approximately 3.6% exceeds that of the S&P 500 Index.
Negative
None.
HARTSVILLE, S.C., April 17, 2024 (GLOBE NEWSWIRE) -- The Board of Directors of Sonoco (NYSE: SON) today increased its quarterly common stock dividend to $0.52 per share from the previous quarterly distribution of $0.51 per share. This new dividend will be paid on June 10, 2024, to shareholders of record as of May 10, 2024.
With this increase, Sonoco’s annualized dividend payout moves to $2.08 per share. Future quarterly declarations and the establishment of future record and payment dates are subject to final determination by Sonoco’s Board of Directors.
According to Howard Coker, President and Chief Executive Officer, this is the 396th consecutive quarter and 99th, year dating back to 1925, that the Company has paid dividends to shareholders, and is the 41st consecutive year the Company has increased its annualized dividend. Based on the closing price of Sonoco’s common stock on April 15, 2024, the Company’s dividend provides an approximate 3.6 percent yield, which is more than double the dividend yield of the S&P 500 Index.
About Sonoco With net sales of approximately $6.8 billion in 2023, the Company has approximately 23,000 employees working in more than 300 operations around the world, serving some of the world’s best-known brands. With our corporate purpose of Better Packaging. Better Life., Sonoco is committed to creating sustainable products and a better world for our customers, employees, and communities. Sonoco was named one of America's Most Responsible Companies by Newsweek. For more information on the Company, visit our website at sonoco.com.
a global supplier of innovative packaging solutions, bringing more to packaging than just the package. about us: founded in 1899, sonoco is a global provider of a variety of consumer packaging, industrial products, protective packaging, and displays and packaging supply chain services. with annualized net sales of approximately $4.8 billion, we have 20,000 employees working in more than 300 operations in 33 countries, serving some of the world's best known brands in some 85 nations. for more information about us, visit www.sonoco.com. what we do: sonoco is the world's largest producer of paperboard containers, and a leading manufacturer of tubes and cores; convenience closures; consumer and industrial thermoformed plastic packaging; engineered molded and extruded plastic products; protective, temperature and retail assurance packaging. awards and accolades: third-party organizations regularly recognize us for our corporate citizenship. we've been listed in the dow jones sustainability