Sonoco Increases Quarterly Stock Dividend for 41ˢᵗ Consecutive Year
April 17 2024 - 10:50AM
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.
Contact: Lisa Weeks
+843-383-7524lisa.weeks@sonoco.com
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