Item 5. Market for Registrant’s Common Equity
Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters, and Issuer Purchases of Equity Securities
The Company’s common stock is traded on the New York Stock Exchange under the stock symbol “SON.” As of December 31, 2023, there were approximately 105,000 shareholder accounts. Information required by Item 201(d) of Regulation S-K can be found in Part III, Item 12 of this Annual Report on Form 10-K.
Although the ultimate determination of whether to pay dividends is within the sole discretion of the Board and is based on a variety of factors, the Company currently plans to continue paying dividends consistent with historic al practice as earnings and the Company's liquidity permit. Dividends per common share were $2.02 in 2023, $ 1.92 in 2022 and $1.80 in 2021. On February 14, 2024, the Company declared a regular quarterly dividend of $0.51 per common share payable on March 8, 2024, to shareholders of record on February 28, 2024.
December 31, 2018 2019 2020 2021 2022 2023
Sonoco Products Company $ 100.00 $ 119.52 $ 118.61 $ 119.23 $ 129.15 $ 123.15
S&P 500 $ 100.00 $ 131.49 $ 155.68 $ 200.37 $ 164.08 $ 207.21
Dow Jones US Containers & Packaging $ 100.00 $ 128.59 $ 155.76 $ 172.84 $ 142.07 $ 152.91
S&P 1500 Materials $ 100.00 $ 123.88 $ 148.16 $ 188.89 $ 168.52 $ 191.27
22 FORM 10-K SONOCO 2023 ANNUAL REPORT
Issuer purchases of equity securities
Period (a) Total Number of
Shares Purchased 1
(b) Average Price
Paid per Share
(c) Total Number of
Shares Purchased
as Part of Publicly
Announced Plans or
Programs
(d) Maximum
Number or Approximate Dollar Value of Shares
that May Yet be
Purchased under the
Plans or Programs 1
10/02/23 - 11/05/23 — $— — $ 137,971,853
11/06/23 - 12/03/23 — $— — $ 137,971,853
12/04/23 - 12/31/23 — $— — $ 137,971,853
Total — $— — $ 137,971,853
In April 2021, the Board authorized the repurchase of the Company’s common stock in an aggregate amount of up to $350.0 million (the “Stock Repurchase Program”). The Stock Repurchase Program was announced on May 4, 2021 and has no expiration date. During the three months ended December 31, 2023, no shares were repurchased under the Stock Repurchase Program and no other Company stock repurchase plans or programs were outstanding, expired, or terminated. As of December 31, 2023, a total of approximately $138.0 million remained available under the Stock Repurchase Program for future share repurchases.
The Company did not make any unregistered sales of its securities during 2023 .
During the three months ended December 31, 2023, none of the Company’s officers or directors adopted or terminated any contract, instruction or written plan for the purchase or sale of the Company’s securities intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) or any non-Rule 10b5-1 trading arrangement.
For further information about share repurchases , see Note 18 to the Company’s Consolidated Financial Statements under Item 8 of this Annual Report on Form 10-K.
Item 6. [Reserved]