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Sonoco
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Hartsville, South Carolina, USA, 18 April 2007 -- /PRNewswire/ -- The board of directors of Sonoco (NYSE:SON) today declared a regular USD 0.26 per share quarterly common stock dividend, an increase of 8.3%, from USD 0.24 per share. The dividend will be payable 08 June 2007, to shareholders of record as of 18 May 2007.

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 USD 0.108 per share in 1982 to a projected annualized amount of USD 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%.

Harris E. DeLoach, Jr., chairman, president and chief executive officer, said, "The board's decision to increase the quarterly dividend by 8.3% 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 USD 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, visit http://www.sonoco.com/.

Source: Sonoco


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