Sonoco increases annual dividend to $2.12 from $2.08 per share

Sonoco (SON) increased its quarterly common stock dividend to 53c per share, which will be paid on June 10, to shareholders of record on May 9. With the increase, Sonoco’s annual dividend payout moves to $2.12 per share up from $2.08 per share. CEO Howard Coker said, “Sonoco’s goal is to increase its long-term profitability and return capital to shareholders. 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.”