Sonoco Increases Quarterly Stock Dividend From $0.51 To $0.52 Per Share
Portfolio Pulse from Benzinga Newsdesk
Sonoco (NYSE:SON) has increased its quarterly dividend to $0.52 per share from $0.51, marking the 41st consecutive year of dividend increases. This adjustment raises the annualized dividend to $2.08 per share, with the next payment scheduled for June 10, 2024, to shareholders on record as of May 10, 2024. This move continues Sonoco's long history of dividends since 1925, offering a 3.6 percent yield based on the April 15, 2024, closing price, significantly higher than the S&P 500's yield.
April 17, 2024 | 2:52 pm
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Sonoco has raised its quarterly dividend to $0.52 per share, marking a consistent increase for the 41st year. The annualized dividend now stands at $2.08, with a notable yield of 3.6% as of April 15, 2024.
Increasing dividends is a positive signal to investors, indicating financial health and a commitment to returning value to shareholders. Given Sonoco's long history of dividend payments and consistent increases, this move is likely to be viewed positively by the market, potentially leading to a short-term uptick in stock price. The high yield compared to the S&P 500 index further enhances its attractiveness to income-focused investors.
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