Sonoco announced it raised its quarterly common stock dividend from $.26 per share to $.27 per share.
Sonoco Products reduced its Q3 and 2007 earnings outlook as the company is experiencing a decline in sales volumes and the cost of raw materials is rising. The company expects Q3 earnings of 55 cents to 58 cents per share, compared to the earlier forecast of 62 cents to 65 cents per share. This announcement led to a 10 percent fall in the stock price in the early hours of trading.