Sonoco Products Co (SON) Announces Quarterly Dividend of $0.39

Sonoco Products Co (NYSE:SON) declared a quarterly dividend on Wednesday, February 14th, RTT News reports. Stockholders of record on Wednesday, February 28th will be given a dividend of 0.39 per share by the industrial products company on Friday, March 9th. This represents a $1.56 annualized dividend and a dividend 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 every year for the last 37 years. Sonoco Products has a payout ratio of 55.7% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Sonoco Products to earn $3.13 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 49.8%.

Sonoco Products (NYSE SON) traded up $0.31 on Wednesday, hitting $50.50. 116,733 shares of the stock traded hands, compared to its average volume of 472,611. Sonoco Products has a 12-month low of $47.10 and a 12-month high of $55.77. 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 $5,001.85, a P/E ratio of 18.41, a P/E/G ratio of 3.45 and a beta of 1.12.

SON has been the topic of several recent analyst reports. Zacks Investment Research upgraded shares of Sonoco Products from a “hold” rating to a “buy” rating and set a $61.00 price objective on the stock in a report on Friday, January 12th. Robert W. Baird restated a “buy” rating and set a $60.00 price objective on shares of Sonoco Products in a report on Friday, November 10th. KeyCorp restated a “hold” rating on shares of Sonoco Products in a report on Sunday, December 3rd. Finally, Barclays upgraded shares of Sonoco Products from an “underweight” rating to an “equal weight” rating and increased their price target for the stock from $49.00 to $55.00 in a report on Friday, December 15th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $53.43.

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About Sonoco Products

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.

Dividend History for Sonoco Products (NYSE:SON)

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