Sonoco Products Company (NYSE:SON) Declares Quarterly Dividend of $0.54

Sonoco Products Company (NYSE:SON) announced a quarterly dividend on Wednesday, April 15th. Investors of record on Friday, May 8th will be given a dividend of 0.54 per share by the industrial products company on Wednesday, June 10th. This represents a c) annualized dividend and a yield of 3.9%. The ex-dividend date of this dividend is Friday, May 8th. This is a 1.9% increase from Sonoco Products’s previous quarterly dividend of $0.53.

Sonoco Products has raised its dividend payment by an average of 0.0%annually over the last three years and has raised its dividend every year for the last 3 years. Sonoco Products has a dividend payout ratio of 32.6% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Sonoco Products to earn $6.85 per share next year, which means the company should continue to be able to cover its $2.12 annual dividend with an expected future payout ratio of 30.9%.

Sonoco Products Price Performance

SON stock opened at $55.15 on Thursday. The business has a 50 day moving average price of $53.99 and a 200 day moving average price of $46.95. The stock has a market cap of $5.45 billion, a price-to-earnings ratio of 5.48, a PEG ratio of 1.09 and a beta of 0.50. Sonoco Products has a fifty-two week low of $38.65 and a fifty-two week high of $58.44. The company has a quick ratio of 0.60, a current ratio of 1.05 and a debt-to-equity ratio of 1.04.

Sonoco Products (NYSE:SON) last posted its earnings results on Tuesday, February 17th. The industrial products company reported $1.05 earnings per share for the quarter, topping the consensus estimate of $1.01 by $0.04. The firm had revenue of $1.77 billion during the quarter, compared to analysts’ expectations of $1.76 billion. Sonoco Products had a return on equity of 18.52% and a net margin of 13.34%.The firm’s revenue was up 29.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.17 earnings per share. Equities research analysts anticipate that Sonoco Products will post 6.1 earnings per share for the current fiscal year.

About Sonoco Products

Sonoco Products Company (NYSE: SON) is a global provider of diversified packaging solutions, serving a wide range of consumer, industrial and retail markets. The company offers a broad portfolio that includes rigid paper and plastic containers, flexible packaging, industrial core and tube products, thermoformed plastics, retail point-of-purchase displays, and packaging supply chain services. Through its solutions, Sonoco helps customers in food and beverage, personal care, chemicals, healthcare, home and garden, and electronics industries address their packaging needs, improve product shelf appeal, and optimize logistics efficiency.

With operations in more than 30 countries across North America, South America, Europe, Asia and Africa, Sonoco leverages a global network of manufacturing facilities, recycling centers and distribution channels to meet the demands of multinational and regional customers.