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Analyzing Sonoco Products's Ex-Dividend Date

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On October 19, 2020, Sonoco Products (NYSE: SON) announced shareholders can expect to receive a dividend payable on December 10, 2020. The stock will then go ex-dividend 1 business day(s) before the record date. Sonoco Products has an ex-dividend date planned for November 9, 2020. The company's current dividend payout sits at $0.43. That equates to a dividend yield of 3.11% at current price levels.

The Significance Of An Ex-Dividend Date

An ex-dividend date signals when a company's shares cease to trade with its current dividend payout. There is a small intermission period before the company announces a new dividend. Usually, a company's ex-dividend date falls one business day before its record date. Investors should keep this in mind when purchasing stocks because buying them on or after ex-dividend dates does not qualify them to receive the declared payment. Newly declared dividends go to shareholders who have owned that stock before the ex-dividend date. Most ex-dividend dates operate on a quarterly basis.

Understanding Sonoco Products's Dividend History

Over the past year, Sonoco Products has seen its dividend payouts remain the same and its yields climb upward overall. Last year on November 7, 2019 the company's payout sat at $0.43, which has returned to its value today. Sonoco Products's dividend yield last year was 2.94%, which has since grown by 0.17%.
Companies use dividend yields in different strategic ways. Some companies may opt to not give yields altogether to reinvest in themselves. Other companies may opt to increase or decrease their yield amounts to control how their shares circulate throughout the stock market.

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Posted-In: Dividends