$SON (Sonoco Products Co.)

$SON {{ '2016-02-10T18:53:40+0000' | timeago}} • Announcement

$SON said that under the amendments, a shareholder, or a group of up to 20 shareholders, owning at least 3% of outstanding common stock continuously for at least 3 years may submit eligible director nominees for up to the greater of 2 directors or 20% of the Board.

$SON {{ '2017-07-19T15:51:17+0000' | timeago}} • Announcement

The BoD of $SON declared a quarterly dividend of $0.39 per share of its common stock. The dividend is payable on Sept. 8, 2017 to shareholders of record as of Aug. 11, 2017.

$SON {{ '2017-07-19T13:48:00+0000' | timeago}} • Announcement

$SON announced that Philippe Guillemot has been named to its BoD. Guillemot is an independent board member and replaces Ed Lawton, who recently resigned for personal reasons.

$SON {{ '2017-07-12T16:55:01+0000' | timeago}} • Announcement

$SON will once again raise prices for paper-based tubes and cores, effective from shipments, beginning July 24, 2017. The company attributed the price hike to "fundamental changes in recovered paper markets."

$SON {{ '2017-06-26T12:30:15+0000' | timeago}} • Announcement

Packaging company $SON has signed a definitive agreement to acquire Clear Lam Packaging, a manufacturer of packaging films, for around $170MM in cash. The deal is part of Sonoco’s strategy of expanding its global flexible packaging and thermoforming plastics operations.

$SON {{ '2017-06-19T13:17:19+0000' | timeago}} • Announcement

$SON said it will renew its previously announced April price increase for all paperboard tubes and cores in the United States and Canada. It said the yield on its April hike has not been sufficient to cover rising costs of raw materials.

$SON {{ '2017-06-13T12:37:59+0000' | timeago}} • Announcement

$SON has restated and is implementing a previously announced price increase for all grades of uncoated recycled paperboard (URB) products in the United States and Canada, effective July 10, 2017.

$SON {{ '2017-04-19T15:58:13+0000' | timeago}} • Announcement

$SON's BoD declared a $0.39 per share quarterly common stock dividend, a 5.4% increase from the previous dividend of $0.37 per share. The dividend will be paid on June 9, 2017, to shareholders of record as of May 12, 2017. $SON’s projected annualized dividend of $1.56 per share provides a yield of about 3%.

$SON {{ '2017-03-15T12:47:14+0000' | timeago}} • Announcement

$SON has completed the acquisition of Peninsula Packaging Company for approx $230MM, from funds managed by Odyssey Investment Partners, LLC and other shareholders. $SON financed the transaction with a combination of cash and a $150MM 3-year term loan. Peninsula’s financial results will be added to $SON's Consumer Packaging segment.

$SON {{ '2017-03-14T22:17:04+0000' | timeago}} • Announcement

$SON acquired Peninsula Packaging Company for approximately $230MM from funds managed by Odyssey Investment Partners, LLC and other shareholders. $SON financed the transaction with a combination of cash and a $150MM three-year term loan.

$SON {{ '2017-03-13T13:31:14+0000' | timeago}} • Announcement

$SON is increasing the prices of all paperboard tubes and cores in the US and Canada by a minimum of 10%. The increase is effective with shipments beginning April 10, 2017.

$SON {{ '2017-03-13T11:58:06+0000' | timeago}} • Announcement

$SON's fully owned subsidiary Sonoco-Alcore S.a.r.l. announced that it will raise prices by EUR60 (approx. $64) per tonne on all recycled paperboard grades sold in the company's European regions. The price change is effective with shipments on or after 17th March 2017.

$SON {{ '2017-02-28T15:59:52+0000' | timeago}} • Announcement

Global packaging company $SON announced that Julie Albrecht has been appointed as Corporate VP, Treasurer/Assistant CFO. Most recently, she was VP, Finance, Investor Relations and Treasurer for $ESL in Bellevue, Washington.

$SON {{ '2017-02-24T14:55:07+0000' | timeago}} • Announcement

Cascades Sonoco, a JV of $SON and Cascades Inc., has invested  about $16MM for the expansion of its existing Birmingham, Ala., facility. This investment in world-class water-based coating technology will provide coated paper and paperboard substrates using its new FlexShield, FluteSHIELD and SurfSHIELD coating technology.

$SON {{ '2017-02-16T16:21:24+0000' | timeago}} • Announcement

$SON agreed to buy Peninsula Packaging Company for about $230MM in cash. Peninsula, which is owned by a fund managed by Odyssey Investment Partners, LLC, is a manufacturer of thermoformed packaging for fresh fruit and vegetables found in the fast-growing perimeter of retail supermarkets. The transaction is expected to close by 2Q17.

$SON {{ '2017-02-08T17:56:42+0000' | timeago}} • Announcement

$SON's BoD declared a regular quarterly common stock dividend of $0.37 per share. The dividend will be payable on March 10, 2017 to shareholders of record as of Feb. 22, 2017.

$SON {{ '2017-01-13T14:19:35+0000' | timeago}} • Announcement

$SON said it is implementing price increases for all paperboard tubes and cores in the United States and Canada by a minimum of 8%. $SON previously announced a 6-8% price increase on all paperboard tubes and cores in October 2016 and $SON is revising the increase to a minimum of 8%, effective with shipments beginning Feb. 13, 2017.

$SON {{ '2016-12-05T12:53:52+0000' | timeago}} • Announcement

$SON said it will invest $20MM in development of a new packaging center to support Duracell's new North America battery packaging operation. $SON's Display and Packaging unit will be located in Duracell's new leased facility in the Atlanta area.

$SON {{ '2016-12-05T12:48:27+0000' | timeago}} • Announcement

For 2017, $SON expects cash from operations to be about $470MM and free cash flow to be about $126MM, after spending $190MM in capital investments and payment of dividends. $SON expects free cash flow to be lower in 2017 due to increased pension contributions, higher cash taxes and historic practice of increasing cash dividends to shareholders.

$SON {{ '2016-12-05T12:47:29+0000' | timeago}} • Announcement

$SON expects to generate about $398MM in cash from operations in 2016, including estimated cash tax payments and fees of $81MM related to sale of $SON's blow molding plastics operations in November 2016. $SON sees to spend about $190MM on capital investments and $147MM on cash dividends to shareholders, thus leaving free cash flow of about $61MM.

$SON {{ '2016-12-05T12:45:42+0000' | timeago}} • Announcement

$SON estimates 2017 base EPS of $2.68-2.78, with a projected midpoint target of $2.73. If acquisitions do not materialize, the company expects that if such proceeds were used for share repurchases, the impact would be equal to about $0.10, increasing prior mentioned 2017 base EPS to $2.78-2.88.

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