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 (NYSE: SON) is a global leader in diversified packaging solutions serving consumer goods, industrial, and retail markets. This news hub provides investors and industry professionals with comprehensive coverage of Sonoco's strategic developments, operational updates, and sustainability initiatives.
Track critical updates including quarterly earnings reports, packaging innovation announcements, sustainability achievements, and strategic partnerships. Our curated collection features official press releases, market analyses, and regulatory filings to help stakeholders monitor Sonoco's position in the competitive packaging sector.
Key focus areas include advancements in recyclable materials, manufacturing efficiency improvements, and expansion of the company's global supply chain capabilities. Regular updates cover Sonoco's progress in meeting environmental goals while maintaining its leadership in paperboard containers and protective packaging solutions.
Bookmark this page for real-time updates on SON's business performance, including developments in food-safe packaging technologies and industrial packaging applications. Stay informed about this packaging innovator's responses to evolving market demands and regulatory changes affecting the global container industry.
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.
