15 Low Profile Dividend Champions to Buy

7. Sonoco Products Company (NYSE:SON)

Number of Hedge Fund Holders: 33

Sonoco Products Company (NYSE:SON) ranks seventh on our Dividend Champions list. The company specializes in the manufacture of industrial and consumer packaging products and services. In 2024, the company strengthened its global position in sustainable metal packaging with the acquisition of Eviosys, a leading European manufacturer of food cans, ends, and closures, completed on December 4, 2024. In addition, it reached an agreement to sell TFP to TOPPAN Holdings, Inc. for approximately $1.8 billion, marking another significant strategic move during the year.

In the fourth quarter of 2024, Sonoco Products Company (NYSE:SON) reported revenue of $1.36 billion, down 16.6% from the same period last year. However, its adjusted EBITDA came in at $247 million, showing a 4.6% growth on a YoY basis. In 2024, the company allocated a record $378 million toward growth initiatives and productivity-enhancing projects. Looking ahead, it expects to achieve around 20% growth in adjusted net income attributable to Sonoco in 2025.

Though Sonoco Products Company (NYSE:SON)’s revenue did not meet investors’ and analysts’ expectations, the company’s cash position remained encouraging. In FY24, the company’s operating cash flow and free cash flow came in at $834 million and $456 million, respectively. It also returned $203 million to shareholders through dividends in 2024, up from $197 million in 2023.

On April 16, Sonoco Products Company (NYSE:SON) declared a 1.9% increase in its quarterly dividend to $0.53 per share. This marked the company’s 42nd consecutive year of dividend growth. Moreover, it was the 400th consecutive quarter of dividend payments. In addition to dividend growth, the stock also offers an attractive dividend yield of 4.81%, as of April 17.