HARTSVILLE, S.C., April 17, 2024 (GLOBE NEWSWIRE) -- The Board of Directors ofย Sonocoย (NYSE: SON) today increased its quarterly common stock dividend toย $0.52ย per share from the previous quarterly distribution ofย $0.51ย per share. This new dividend will be paid onย June 10, 2024, to shareholders of record as ofย May 10, 2024.
With this increase, Sonocoโs annualized dividend payout moves toย $2.08 per share. Future quarterly declarations and the establishment of future record and payment dates are subject to final determination by Sonocoโs Board of Directors.
According toย Howard Coker, President and Chief Executive Officer, this is the 396thย 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 Sonocoโs common stock onย April 15, 2024, the Companyโs 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 approximatelyย $6.8 billionย in 2023, the Company has approximately 23,000 employees working in more than 300 operations around the world, serving some of the worldโs best-known brands. With our corporate purpose ofย Better Packaging. Better Life.,ย Sonocoย is committed to creating sustainable products and a better world for our customers, employees, and communities.ย Sonocoย was named one of America's Most Responsible Companies by Newsweek. For more information on the Company, visit our website atย sonoco.com.
Contact:
Lisa Weeks
+843-383-7524
lisa.weeks@sonoco.com
