Sonoco Increases Quarterly Stock Dividend for 41ˢᵗ Consecutive Year

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 396^th consecutive quarter and 99^th, 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.

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

FAQ

What is Sonoco's (SON) new quarterly stock dividend?

Sonoco has increased its quarterly common stock dividend to $0.52 per share.

When will the new dividend be paid to shareholders?

The new dividend will be paid on June 10, 2024, to shareholders of record as of May 10, 2024.

What is Sonoco's (SON) annualized dividend payout after the increase?

Sonoco's annualized dividend payout now stands at $2.08 per share.

How many consecutive years has Sonoco (SON) increased its annualized dividend?

Sonoco has increased its annualized dividend for 41 consecutive years.

What is the dividend yield of Sonoco (SON) compared to the S&P 500 Index?

Sonoco's dividend yield of approximately 3.6% is more than double that of the S&P 500 Index.