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Avery Dennison To Consider Raising Dividend In 2011 - CEO

By Bob Tita Of DOW JONES NEWSWIRES CHICAGO -(Dow Jones)- Avery Dennison Corp. (AVY) will consider raising its stock dividend or buying back shares in 2011, as the company's financial condition improves, chairman and chief executive Dean Scarborough said. The manufacturer of labels, price tags and office supplies slashed its annual dividend a year ago to 80 cents a share from $1.64 to preserve cash for debt reduction in the wake of steep declines in sales. "Now, the company is in better shape," Scarborough said late Tuesday in an interview with Dow Jones Newswires. Demand has improved and the bulging inventories in Avery's businesses lines have been eliminated. Scarborough anticipates the company's board will consider a dividend increase next year or buying back shares of Avery stock. "It's something that's definitely on the table," he said. "We should be in a position a return more cash to shareholders." Avery's stock was recently trading up six cents at $35.38 a share. -By Bob Tita, Dow Jones Newswires; 312-750-4129; robert.tita@dowjones.com

Stock News for Avery Dennison (AVY)
DateTimeHeadline
11/15/201307:11:08AQR Capital Management 3Q 13F: Holdings As Of Sep 30
11/15/201307:11:08AQR Capital Management 3Q 13F: Holdings As Of Sep -2-
07/23/201309:24:01Avery Dennison 2nd-Quarter Profit Up 7.2% on Sales, Margin Growth
03/29/201307:19:363M Says Court Upholds Validity of Retroreflective Sheeting Patent
10/24/201209:38:55Avery Dennison 3rd-Quarter Profit Rose 8.5% on Stronger Margins...
10/04/201209:21:09U.S. HOT STOCK FUTURES: HOT STOCKS TO WATCH
10/03/201218:20:403M, Avery Dennison Scuttle $550 Million Acquisition
09/04/201219:41:05DOJ: 3M Abandons Avery Deal Amid Antitrust Lawsuit Threat
09/04/201219:39:30Justice Department: 3M Drops Plans to Acquire Avery Dennison's...
09/04/201216:31:18Justice Department May Sue to Block 3M Purchase of Avery Dennison...
06/21/201216:21:13Expanding Toll Roads Prompted 3M's $110 Million Deal for Federal...
04/21/201200:20:37MARKET SNAPSHOT: U.S. Stock Gains Hinge On Apple, Blue-chip Results
02/07/201217:20:07Staples, Avery Target Home Organization With Martha Stewart Line
01/31/201209:41:56Avery Dennison 4Q Profit Off 81% On Prior-Year Benefit, Sales...
01/26/201209:21:30CORRECT: 3M's 4Q Profit Up 2.8% On Industrial, Transportation...
01/26/201209:14:583M's 4Q Profit Up 2.8% On Industrial, Transportation Strength
01/03/201209:04:083M To Acquire Avery Dennison Office, Consumer Products Unit For...
07/26/201110:00:46CORRECT: Avery Dennison 2Q Profit Drops 13% On Volume Declines
07/26/201109:19:14Avery Dennison 2Q Profit Drops 13% On Volume Declines
04/27/201109:23:44Avery Dennison 1Q Net Drops 18% On Weaker Margins; Revenue Rises

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