Sonoco Products Hikes Dividend By About 9%

Sonoco Products Co SON has increased its quarterly common stock dividend by about 9% to $0.49 per share from $0.45 per share.
The new dividend will be paid on June 10, 2022, to shareholders of record as of May 10, 2022.
With the move, Sonoco's annual dividend payout rises to $1.96 per share from $1.80 per share, an 8.9% increase.
As of the closing price of Sonoco's common stock on April 19, 2022, the company's dividend provides about a 3% yield, more than double the dividend yield of the S&P 500 Index.
The company held cash and equivalents of $171.0 million as of December 31, 2021.
Price Action: SON shares are trading higher by 1.83% at $65.77 on the last check Wednesday.