Ex-Dividend Date Insight: Sonoco Products

On July 21, 2021, Sonoco Products SON declared a dividend payable on September 10, 2021 to its shareholders. Sonoco Products also announced that shareholders on the company's books on or before August 10, 2021 are entitled to the dividend. The stock will then go ex-dividend 1 business day(s) before the record date. Sonoco Products has an ex-dividend date planned for August 9, 2021. The company's current dividend payout sits at $0.45. That equates to a dividend yield of 2.73% at current price levels.

Understanding Ex-Dividend Dates'

Ex-dividend dates are when company shares stop trading with their current dividend payouts in preparation for those companies to announce new ones. Usually, a company's ex-dividend date falls one business day before its record date. Investors should keep this in mind when purchasing stocks because buying them on or after ex-dividend dates does not qualify them to receive the declared payment. Newly declared dividends go to shareholders who have owned that stock before the ex-dividend date. Most ex-dividend dates operate on a quarterly basis.

Sonoco Products's Dividend Performance

Over the past year, Sonoco Products has seen its dividend payouts climb upward and its yields trend downward. Last year on August 7, 2020 the company's payout sat at $0.43, which has since increased by $0.02. Sonoco Products's dividend yield last year was 3.29%, which has since decreased by 0.56%.
Companies use dividend yields in different strategic ways. Some companies may opt to not give yields altogether to reinvest in themselves. Other companies may opt to increase or decrease their yield amounts to control how their shares circulate throughout the stock market.

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