MENTOR, Ohio - Avery Dennison Corporation (NYSE:AVY), a global materials science and identification solutions provider, has announced a quarterly cash dividend of $0.81 per share. This dividend is scheduled to be paid on March 20, 2024, to shareholders who are on record as of March 6, 2024.
The declaration of this dividend follows Avery Dennison's reported sales of $8.4B in 2023. The company operates in various sectors, including home and personal care, apparel, retail, e-commerce, logistics, food and grocery, pharmaceuticals, and automotive. With a workforce of approximately 35,000 employees, Avery Dennison has a presence in over 50 countries.
Avery Dennison's offerings encompass a variety of branding and information solutions aimed at enhancing labor and supply chain efficiency, advancing sustainability, and connecting brands with consumers. Their product lineup includes labeling and functional materials, radio frequency identification (RFID) inlays and tags, and software applications that bridge the gap between physical items and digital data. Additionally, the company provides products that contribute to branded packaging and display information to improve customer experience.
The company's strategic focus on material science and digital identification solutions is part of its commitment to optimizing operations and promoting sustainable practices across the industries it serves.
This information is based on a press release statement issued by Avery Dennison Corporation.
InvestingPro Insights
In light of Avery Dennison Corporation's recent dividend announcement, it's worth noting some key insights from InvestingPro that could be of interest to investors. Avery Dennison has been demonstrating a strong commitment to shareholder returns, as evidenced by its consistent dividend growth, having raised its dividend for 13 consecutive years and maintaining dividend payments for 53 years in total. This is a testament to the company's stability and investor-friendly approach.
From a financial perspective, Avery Dennison's market capitalization stands at $16.21B, with a Price/Earnings (P/E) ratio of 27.77 for the last twelve months as of Q3 2023. Despite a revenue decline of approximately 10% over the same period, the company has shown a robust gross profit margin of 26.35%. Investors looking for steady returns will be encouraged by the company's 3-month price total return of 16.09%, indicating strong recent performance.
For those considering an investment in Avery Dennison, InvestingPro provides additional insights and metrics. With an InvestingPro subscription, now on a special New Year sale with a discount of up to 50%, subscribers can access even more detailed analysis. Use coupon code SFY24 to get an additional 10% off a 2-year InvestingPro+ subscription, or SFY241 to get an additional 10% off a 1-year InvestingPro+ subscription. Currently, there are 11 additional InvestingPro Tips available for Avery Dennison, offering a comprehensive outlook for informed investment decisions.
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