Dividend Raised for the 25th Consecutive Year, Payout Increased 8.3 Percent
HARTSVILLE, S.C., April 18 /PRNewswire-FirstCall/ -- The Board of
Directors of Sonoco (NYSE: SON) today declared a regular $.26 per share
quarterly common stock dividend, an increase of 8.3 percent, from $.24 per
share. The dividend will be payable June 8, 2007, to shareholders of record
as of May 18, 2007.
(Logo: http://www.newscom.com/cgi-bin/prnh/19991006/SNCLOGO )
This is the 25th consecutive year Sonoco has increased common stock
dividends and the 328th consecutive quarter, dating back to 1925, that the
Company has paid dividends to shareholders. Over the past 25 years, the
Company's annual dividend has grown on a split-adjusted basis from $.108
per share in 1982 to a projected annualized amount of $1.04 per share.
Based on the average closing price of the Company's common stock
year-to-date, projected annual dividends provide a yield of 2.7 percent.
Harris E. DeLoach, Jr., chairman, president and chief executive
officer, said, "The Board's decision to increase the quarterly dividend by
8.3 percent reflects its confidence in the Company's long-term growth
strategy and business performance. In addition, our solid financial
condition and strong cash flow from operations support our capital
requirements, fuel investments for growth and enable us to return value to
shareholders."
About Sonoco
Founded in 1899, Sonoco is a $3.7 billion global manufacturer of
industrial and consumer products and provider of packaging services, with
more than 300 operations in 35 countries, serving customers in some 85
nations. For more information on the Company, visit our Web site at
http://www.sonoco.com.
Forward-looking Statements
Statements included herein that are not historical in nature, are
intended to be, and are hereby identified as "forward-looking statements"
for purposes of the safe harbor provided by Section 21E of the Securities
and Exchange Act of 1934, as amended. The words "estimate," "project,"
"intend," "expect," "believe," "consider," "plan," "anticipate,"
"objective," "goal," "guidance" and similar expressions identify
forward-looking statements. Forward-looking statements include, but are not
limited to, statements regarding adequacy of cash flows, anticipated
amounts and uses of cash flows, financial strategies and the results
expected from them, continued payments of dividends, stock repurchases and
producing improvements in earnings.
These forward-looking statements are based on current expectations,
estimates and projections about our industry, management's beliefs and
assumptions made by management. Such information includes, without
limitation, discussions as to guidance and other estimates, expectations,
beliefs, plans, strategies and objectives concerning our future financial
and operating performance. These statements are not guarantees of future
performance and are subject to risks, uncertainties and assumptions that
are difficult to predict. Therefore, actual results may differ materially
from those expressed or forecasted in such forward-looking statements.
The Company undertakes no obligation to publicly update or revise
forward- looking statements, whether as a result of new information, future
events or otherwise.
Additional information concerning some of the factors that could cause
materially different results is included in the Company's reports on forms
10-K, 10-Q and 8-K filed with the Securities and Exchange Commission. Such
reports are available from the Securities and Exchange Commission's public
reference facilities and its Web site, http://www.sec.gov, the Company's
investor relations department and the Company's Web site,
http://www.sonoco.com.
SOURCE Sonoco
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Related links:
http://www.sonoco.com
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CONTACT:
Roger Schrum, Sonoco, +1-843-339-6018,
roger.schrum@sonoco.com
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