sonoco products co (SON) Key Developments
Sonoco Board Declares Increase in Quarterly Common Stock Dividend Payable on June 10, 2014; Provides Dividend Guidance for 2014
Apr 16 14
The Board of Directors of Sonoco declared a $0.32 per share quarterly common stock dividend, an increase from the previous quarterly dividend of $31 per share. The dividend will be paid on June 10, 2014, to shareholders of record as of May 16, 2014.
If annualized, Sonoco's new dividend is projected to increase from $1.24 to $1.28 per share, an increase of 3.2%. The company projected annualized dividend of $1.28 per share provides a yield of approximately 3.0%, based on the Company's closing stock price of $41.65 as of April 15, 2014.
Sonoco to Invest $20 Million for New Malaysian Composite Can Plant
Apr 16 14
Sonoco announced that it will invest $20 million to build a high-speed composite can production facility in near Kuala Lampur, Malaysia, which will produce packaging for snacks. In addition, the company is spending more than $5 million to create the Sonoco Innovative Packaging Solutions(TM) (IPS(TM)) Studio at its Hartsville, S. C., manufacturing and headquarters complex. Sonoco will add three high-speed composite can lines along with two metal end presses. In addition, an extrusion laminator is expected to be installed at the company's flexible packaging facility in Kajang, Selangor Darul Eshan, Malaysia, to produce can liners. The first can line is expected to be installed in the third quarter of 2014 and begin commercial production in the first quarter of 2015. All three lines, along with the metal end presses and the extrusion laminator are expected to be operational by the end of 2015. When in full production the new Sonoco operation should employ approximately 110 workers.
Sonoco ThermoSafe Launches Via Series of Pre-Qualified Shippers
Mar 10 14
Sonoco ThermoSafe, a unit of Sonoco has launched the Via Series of pre-qualified temperature controlled shippers. The Via Series is Sonoco ThermoSafe's most rigorously tested solution for maintaining pharmaceuticals, biologics, vaccines and other high-value products within a specified temperature range during transport, making it ideal for clinical trials shipments. A full complement of temperature ranges, sizes and durations ensure the correct solution is available to meet a wide range of requirements. The Via Series of shippers maintains refrigerated, controlled room temperature (CRT), or frozen temperatures for one to five days depending on configuration. Four payload sizes, ranging from 3 to 11.5 liters, are available, and all Via shipping systems are pre-qualified to Sonoco ThermoSafe's real world ISCsilver ambient profile.
Sonoco ThermoSafe Launches New Addition to Wine Shipper Product Line
Mar 6 14
Sonoco ThermoSafe a unit of Sonoco has introduced a line extension to its wine shipper family that ensures temperature control and product protection during the shipment of wine, spirits and craft alcoholic beverages for up to five days. The new models utilize sustainable materials and provide temperature and product protection for sets of two or six 750-mL wine bottles. Lineup now includes the complete temperature-controlled wine shipping systems designed specifically to ensure wine is held below 77 degrees Fahrenheit. Additionally, these complete shipper systems include easy-to-follow instructions and are available without refrigerants for shipping during colder months.
Sonoco ThermoSafe Launches Envoy(R) Frozen Series of Pre-Qualified Shippers
Mar 4 14
Sonoco ThermoSafe, a unit of Sonoco has added frozen (less than minus 20 degrees Celsius) configurations to its popular Envoy Series of pre-qualified shippers. The Envoy Series is a proven solution for maintaining pharmaceuticals, biologics, vaccines and other high-value products within a specified temperature range during transport. With the addition of the frozen range, the Envoy Series now offers a complete suite of solutions for frozen, refrigerated and CRT shipping applications. The Envoy Frozen Series currently consists of four sizes ranging from 2.5 litres to 24 litres. The shippers will maintain the payload's temperature at less than minus 20 degrees Celsius for a minimum of four days, depending on model. All Envoy shipping systems are pre-qualified to real world ISCsilver(R) ambient profile to ensure compliance to GDP regulations.