Sonoco Board Declares Regular Quarterly Common Stock Dividend; Adopts Proxy Access By-Law Amendments
HARTSVILLE, S.C., Feb. 10, 2016 (GLOBE NEWSWIRE) -- The Board of Directors of Sonoco (NYSE:SON) today declared a $.35 per share quarterly common stock dividend. The dividend will be paid on March 10, 2016, to shareholders of record as of February 24, 2016.
According to Jack Sanders, president and chief executive officer, this is the 363rd consecutive quarter, dating back to 1925, that the Company has paid a dividend to shareholders.
Separately, the Company’s Board of Directors today approved amendments to the Company's By-laws to provide eligible shareholders with new "proxy access" rights for nominating director candidates. Under the amendments, a shareholder, or a group of up to 20 shareholders, owning at least three percent of the Company's outstanding common stock continuously for at least three years may submit eligible director nominees for up to the greater of two directors or 20 percent of the Board, subject to the procedures, terms and conditions specified in the By-laws.
Founded in 1899, Sonoco is a global provider of a variety of consumer packaging, industrial products, protective packaging, and displays and packaging supply chain services. With annualized net sales of approximately $5.0 billion, the Company has 20,800 employees working in more than 330 operations in 34 countries, serving some of the world’s best known brands in some 85 nations. Sonoco is a proud member of the 2015/2016 Dow Jones Sustainability World Index. For more information on the Company, visit our website at www.sonoco.com.
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