Sonoco Products Co (SON) to Issue $0.41 Quarterly Dividend

Sonoco Products Co (NYSE:SON) declared a quarterly dividend on Wednesday, July 18th, RTT News reports. Shareholders of record on Friday, August 10th will be given a dividend of 0.41 per share by the industrial products company on Monday, September 10th. This represents a $1.64 dividend on an annualized basis and a yield of 3.09%.

Sonoco Products has raised its dividend by an average of 6.6% annually over the last three years and has increased its dividend annually for the last 37 consecutive years. Sonoco Products has a dividend payout ratio of 49.8% meaning its dividend is sufficiently covered by earnings. Research analysts expect Sonoco Products to earn $3.46 per share next year, which means the company should continue to be able to cover its $1.64 annual dividend with an expected future payout ratio of 47.4%.

Sonoco Products opened at $53.00 on Thursday, Marketbeat Ratings reports. The stock has a market capitalization of $5.28 billion, a price-to-earnings ratio of 19.00, a PEG ratio of 3.46 and a beta of 1.12. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.16 and a current ratio of 1.61. Sonoco Products has a 12-month low of $46.55 and a 12-month high of $55.77.

Sonoco Products (NYSE:SON) last released its earnings results on Thursday, April 19th. The industrial products company reported $0.74 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.72 by $0.02. The company had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.29 billion. Sonoco Products had a net margin of 3.79% and a return on equity of 17.02%. The firm’s quarterly revenue was up 11.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.59 EPS. analysts forecast that Sonoco Products will post 3.29 earnings per share for the current year.

A number of research firms have issued reports on SON. Zacks Investment Research upgraded shares of Sonoco Products from a “hold” rating to a “buy” rating and set a $58.00 target price on the stock in a report on Wednesday, May 30th. TheStreet upgraded shares of Sonoco Products from a “c+” rating to a “b” rating in a report on Thursday, April 19th. Vertical Research lowered shares of Sonoco Products from a “buy” rating to a “hold” rating in a report on Friday, April 20th. KeyCorp reiterated a “hold” rating on shares of Sonoco Products in a report on Thursday, April 19th. Finally, UBS Group assumed coverage on shares of Sonoco Products in a report on Friday, April 13th. They set a “buy” rating and a $55.00 price objective on the stock. Two analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $54.29.

In other news, VP Roger P. Schrum sold 1,067 shares of the stock in a transaction dated Tuesday, June 5th. The shares were sold at an average price of $53.00, for a total transaction of $56,551.00. Following the transaction, the vice president now directly owns 11,111 shares in the company, valued at approximately $588,883. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Rodger D. Fuller sold 13,974 shares of the stock in a transaction dated Friday, April 20th. The stock was sold at an average price of $51.05, for a total transaction of $713,372.70. Following the transaction, the senior vice president now owns 72,174 shares in the company, valued at $3,684,482.70. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 36,220 shares of company stock worth $1,898,210. Insiders own 1.70% of the company’s stock.

Sonoco Products Company Profile

Sonoco Products Company manufactures and sells industrial and consumer packaging products in North and South America, Europe, Australia, and Asia. The company operates through four segments: Consumer Packaging, Display and Packaging, Paper and Industrial Converted Products, and Protective Solutions. The Consumer Packaging segment offers composite and thermoformed plastic round and shaped rigid containers and trays; extruded and injection-molded plastic products; printed flexible packaging products; brand artwork management; and metal and peelable membrane ends and closures.

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Dividend History for Sonoco Products (NYSE:SON)

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