Sonoco Declares Regular Quarterly Common Stock Dividend

Rhea-AI Summary

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.

Positive

• 391 consecutive quarters of dividend payments indicate long-term financial stability.
• 39 consecutive years of increased dividends highlight company growth and shareholder value.
• Strong revenue with net sales of approximately $7.3 billion in 2022 reinforces financial health.

Negative

• None.

HARTSVILLE, S.C., Feb. 09, 2023 (GLOBE NEWSWIRE) -- The Board of Directors of Sonoco (NYSE: SON) has declared a $0.49 per share quarterly common stock dividend. This dividend will be paid on March 10,2023, to shareholders of record as of February 22, 2023.

According to Howard Coker, Sonoco president and chief executive officer, this is the 391^th consecutive quarter, dating back to 1925, that the Company has paid dividends to shareholders. Sonoco has one of the longest records of paying dividends to shareholders in the packaging sector and the Company has paid higher year-over-year dividends for 39 consecutive years. Sonoco last raised its dividend payout in March 2022 and the Company’s Board of Directors traditionally considers dividend adjustments at its April board meeting.

About Sonoco
Founded in 1899, Sonoco (NYSE:SON) is a global provider of packaging products. With net sales of approximately $7.3 billion in 2022, the Company has approximately 22,000 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. The Company ranked first in the Packaging sector on Fortune's World's Most Admired Companies for 2022 as well as being included in Barron's 100 Most Sustainable Companies for the fourth consecutive year. For more information on the Company, visit our website at www.sonoco.com.

Contact: Lisa Weeks
+843-383-7524
lisa.weeks@sonoco.com

FAQ

What is the amount of Sonoco's latest dividend?

Sonoco's latest dividend is $0.49 per share.

When will Sonoco's dividend be paid?

The dividend will be paid on March 10, 2023.

What is the record date for Sonoco's dividend payment?

The record date is February 22, 2023.

How long has Sonoco been paying dividends?

Sonoco has paid dividends for 391 consecutive quarters.

How many years has Sonoco increased its dividends?

Sonoco has increased its dividends for 39 consecutive years.