04.21.16
The Board of Directors of Sonoco declared a $.37 per share quarterly common stock dividend, a 5.7% increase from the previous quarterly dividend of $.35 per share. The dividend will be paid on June 10, 2016, to shareholders of record as of May 13, 2016.
According to Jack Sanders, president and CEO, this is the 34th consecutive year that Sonoco has raised common stock dividends and the 364th consecutive quarter, dating back to 1925, that the company has paid dividends to shareholders. If annualized, Sonoco’s new dividend is projected to increase to $1.48 per share, from $1.37 paid in 2015.
“Today’s dividend increase demonstrates our confidence in the continued earnings growth of Sonoco and our dedication to returning value to our shareholders,” said Sanders. “For more than nine decades, Sonoco has been committed to paying consecutive quarterly dividends to our shareholders, and over the past decade we have returned more than $1.5 billion in cash to shareholders in the form of increased dividends and share repurchases. In addition to paying higher dividends in 2016, Sonoco also is repurchasing up to $100 million of our outstanding common stock. Combined, we expect to return approximately $240 million in cash to shareholders.”
Sonoco’s projected annualized dividend of $1.48 per share provides a yield of 3.0%, based on the Company’s closing stock price of $48.80 on April 19, 2016. Sonoco’s dividend yield is one of the highest payouts provided by any US packaging company and is about 35% higher than the dividend yield of the S&P 500.
According to Jack Sanders, president and CEO, this is the 34th consecutive year that Sonoco has raised common stock dividends and the 364th consecutive quarter, dating back to 1925, that the company has paid dividends to shareholders. If annualized, Sonoco’s new dividend is projected to increase to $1.48 per share, from $1.37 paid in 2015.
“Today’s dividend increase demonstrates our confidence in the continued earnings growth of Sonoco and our dedication to returning value to our shareholders,” said Sanders. “For more than nine decades, Sonoco has been committed to paying consecutive quarterly dividends to our shareholders, and over the past decade we have returned more than $1.5 billion in cash to shareholders in the form of increased dividends and share repurchases. In addition to paying higher dividends in 2016, Sonoco also is repurchasing up to $100 million of our outstanding common stock. Combined, we expect to return approximately $240 million in cash to shareholders.”
Sonoco’s projected annualized dividend of $1.48 per share provides a yield of 3.0%, based on the Company’s closing stock price of $48.80 on April 19, 2016. Sonoco’s dividend yield is one of the highest payouts provided by any US packaging company and is about 35% higher than the dividend yield of the S&P 500.