Sonoco Products Company (SON) to Issue Quarterly Dividend of $0.39 on December 8th
Sonoco Products Company (NYSE:SON) declared a quarterly dividend on Monday, October 16th, RTT News reports. Investors of record on Friday, November 10th will be paid a dividend of 0.39 per share by the industrial products company on Friday, December 8th. This represents a $1.56 annualized dividend and a yield of 3.01%. The ex-dividend date is Thursday, November 9th.
Sonoco Products has increased its dividend by an average of 5.9% annually over the last three years and has raised its dividend every year for the last 36 years. Sonoco Products has a dividend payout ratio of 55.7% meaning its dividend is sufficiently covered by earnings. Analysts expect Sonoco Products to earn $3.03 per share next year, which means the company should continue to be able to cover its $1.56 annual dividend with an expected future payout ratio of 51.5%.
Sonoco Products (SON) opened at $51.91 on Friday. The company has a current ratio of 1.59, a quick ratio of 1.11 and a debt-to-equity ratio of 0.74. The firm has a market capitalization of $5,134.06, a price-to-earnings ratio of 19.27, a P/E/G ratio of 3.96 and a beta of 1.15.
Sonoco Products (NYSE:SON) last announced its quarterly earnings results on Thursday, October 19th. The industrial products company reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.02. The firm had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.27 billion. Sonoco Products had a net margin of 5.63% and a return on equity of 16.40%. The business’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.72 EPS. research analysts expect that Sonoco Products will post 2.8 earnings per share for the current year.
A number of equities analysts recently issued reports on the stock. Bank of America Corporation raised their price objective on shares of Sonoco Products from $55.00 to $56.00 and gave the stock an “underperform” rating in a report on Friday, July 21st. KeyCorp reissued a “hold” rating on shares of Sonoco Products in a report on Thursday, October 19th. Barclays PLC reissued an “underweight” rating and issued a $48.00 price objective (up previously from $45.00) on shares of Sonoco Products in a report on Monday, July 24th. Robert W. Baird reissued a “buy” rating and issued a $60.00 price objective on shares of Sonoco Products in a report on Friday, September 1st. Finally, BidaskClub downgraded shares of Sonoco Products from a “sell” rating to a “strong sell” rating in a report on Thursday, July 27th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the stock. Sonoco Products has a consensus rating of “Hold” and an average target price of $52.00.
COPYRIGHT VIOLATION NOTICE: “Sonoco Products Company (SON) to Issue Quarterly Dividend of $0.39 on December 8th” was posted by Watch List News and is owned by of Watch List News. If you are viewing this article on another site, it was copied illegally and republished in violation of US & international trademark and copyright law. The correct version of this article can be viewed at https://www.watchlistnews.com/sonoco-products-company-son-to-issue-quarterly-dividend-of-0-39-on-december-8th/1677893.html.
In other Sonoco Products news, CFO Barry L. Saunders sold 5,645 shares of Sonoco Products stock in a transaction that occurred on Thursday, October 26th. The shares were sold at an average price of $52.39, for a total transaction of $295,741.55. Following the transaction, the chief financial officer now owns 60,455 shares of the company’s stock, valued at $3,167,237.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Marcy J. Thompson sold 565 shares of Sonoco Products stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $51.00, for a total transaction of $28,815.00. The disclosure for this sale can be found here. Insiders have sold 6,937 shares of company stock worth $363,088 in the last ninety days. Insiders own 1.90% of the company’s stock.
Sonoco Products Company Profile
Sonoco Products Company is engaged in manufacturing of industrial and consumer packaging products, and providing packaging services. The Company operates in four segments: Consumer Packaging, Paper and Industrial Converted Products, Display and Packaging, and Protective Solutions. Its Consumer Packaging segment’s products and services include round composite cans, aluminum, steel and peelable membrane easy-open closures for composite and metal cans; plastic bottles, cups and trays, and printed flexible packaging and global brand management.
Receive News & Ratings for Sonoco Products Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sonoco Products Company and related companies with Analyst Ratings Network's FREE daily email newsletter.