Dividend Announcement Thread!

[Dividend Watcher]

Sonoco Increases Quarterly Common Stock Dividend
April 16, 2025

HARTSVILLE, S.C., April 16, 2025 (GLOBE NEWSWIRE) -- The Board of Directors of Sonoco (NYSE: SON) today increased its quarterly common stock dividend to $0.53 per shares as it celebrated the 100th consecutive year of paying dividends to its shareholders at the Company’s annual meeting. The new quarterly dividend will be paid on June 10, 2025, to shareholders of record on May 9, 2025.

With the increase, Sonoco’s annual dividend payout moves to $2.12 per share up from $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 400th consecutive quarter, dating back to 1925, that the Company has paid dividends to shareholders, and is the 42nd consecutive year the Company has increased its dividend. Based on the closing price of Sonoco’s common stock on April 15, 2025, the Company’s dividend provides an approximate 4.8 percent yield, which is more than double the dividend yield of the S&P Mid-Cap 400 Index.

“Sonoco’s goal is to increase its long-term profitability and return capital to shareholders,” Coker said. “Over the past two years the Company has generated approximately $1.7 billion in operating cash flow which has been used to invest in future growth and to drive productivity savings. While we are focused on using free cash flow to lower leverage following the recent acquisition of Eviosys, our dividend remains an important part of our value creation story.”

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I recently posted about Sonoco Products here.