HARTSVILLE, S.C., April 16, 2025 (GLOBE NEWSWIRE) -- The Board of Directors of Sonoco $(SON)$ today increased its quarterly common stock dividend to $0.53 per shares as it celebrated the 100(th) 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 400(th) consecutive quarter, dating back to 1925, that the Company has paid dividends to shareholders, and is the 42(nd) 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."

About Sonoco

Founded in 1899, Sonoco (NYSE: SON) is a global leader in value-added, sustainable metal and fiber consumer and industrial packaging. The Company is now a multi-billion-dollar enterprise with approximately 23,400 employees working in 285 operations in 40 countries, serving some of the world's best-known brands. Guided by our purpose of Better Packaging. Better Life., we strive to foster a culture of innovation, collaboration and excellence to provide solutions that better serve all our stakeholders and support a more sustainable future. Sonoco was proudly named one of America's Most Trustworthy and Responsible Companies by Newsweek in 2025. For more information on the Company, visit our website at www.sonoco.com.

 
Contact:         Roger Schrum 
                       843-339-6018 
            roger.schrum@sonoco.com 
 

(END) Dow Jones Newswires

April 16, 2025 11:50 ET (15:50 GMT)