Sonoco, a leading provider of consumer packaging, industrial products, protective packaging, and packaging supply chain services, has announced a 4 percent increase in its quarterly common stock dividend. This increase will move Sonoco's annualized dividend payout to $2.04 per share from $1.96 per share.

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Dividend Payment and Record Dates

The new dividend of $0.51 per share will be payable on June 9, 2023, to shareholders of record as of May 10, 2023. Future quarterly declarations, record dates, and payment dates will be determined by Sonoco's Board of Directors.

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Sonoco's Dividend Payment History

According to Howard Coker, President and Chief Executive Officer of Sonoco, the company has paid dividends to its shareholders for 392 consecutive quarters, dating back to 1925. This announcement also marks the 40th consecutive year that Sonoco has increased its dividend.

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Dividend Yield

Sonoco's dividend yield, based on the closing price of the company's common stock on April 18, 2023, is approximately 3.3 percent. This yield is double the dividend yield of the S&P 500 Index, making Sonoco an attractive option for investors seeking steady returns.

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Investor Benefits

The increase in Sonoco's dividend is good news for investors as it reflects the company's confidence in its financial strength and growth prospects. The regular dividend payments also provide a reliable source of income for investors, especially during times of market volatility.

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Members of LevelFields received the alert of this event on April 19, 11:35 AM ET

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