STAMFORD, Conn. - Silgan Holdings Inc. (NYSE: NYSE:SLGN), a supplier of rigid packaging solutions for consumer goods, has declared a quarterly cash dividend of $0.19 per share. The dividend is payable on December 16, 2024, to shareholders on record as of December 2, 2024. This marks the 83rd consecutive quarter since 2004 that the company has paid a quarterly cash dividend, with a history of increasing the dividend annually.
Silgan Holdings, with a reported $6.0 billion in net sales for 2023, operates 124 manufacturing facilities across the Americas, Europe, and Asia. The company is known for providing a variety of packaging solutions, including dispensing and specialty closures for various products, metal containers for food, and custom containers for shelf-stable goods.
The company's consistent dividend payments reflect its financial stability and commitment to returning value to shareholders. This announcement is based on a press release statement from Silgan Holdings Inc.
In other recent news, Silgan Holdings Inc. reported a mixed third-quarter performance in 2024. Despite a 3% decline in net sales to about $1.8 million, primarily due to lower raw material costs and softer pack volumes in the Metal Containers segment, the company experienced a 4% increase in adjusted net income per diluted share to $1.21. Silgan's CEO, Adam Greenlee, highlighted the successful integration of Weener Packaging (NYSE:PKG), which is expected to enhance the company's dispensing solutions.
Looking ahead, Silgan anticipates significant earnings growth in 2025, with double-digit EPS growth and improved pack volumes. The company also forecasts Q4 2024 earnings per share between $0.70 and $0.88, and full-year adjusted net income per diluted share estimated between $3.55 and $3.65.
Furthermore, Silgan expects growth in Dispensing and Specialty Closures, projecting mid-single-digit growth for 2025. The Custom Containers segment is also predicted to see low single-digit growth, supported by new business wins. However, a decline in Metal Containers pack volumes is anticipated due to adverse weather and customer adjustments.
These are among the recent developments for Silgan Holdings Inc., as the company navigates the market landscape while focusing on innovation, cost management, and strategic growth initiatives.
InvestingPro Insights
Silgan Holdings Inc.'s (NYSE: SLGN) recent dividend declaration aligns with its strong track record of shareholder returns. According to InvestingPro data, the company's dividend yield stands at 1.43%, with a notable dividend growth of 5.56% over the last twelve months. This consistent dividend policy is further supported by an InvestingPro Tip highlighting that Silgan has raised its dividend for 20 consecutive years, underscoring the company's commitment to shareholder value.
The company's financial stability is evident in its market capitalization of $5.66 billion and a price-to-earnings ratio of 17.66, based on the last twelve months' data. An additional InvestingPro Tip reveals that Silgan's liquid assets exceed its short-term obligations, indicating a strong financial position that supports its ongoing dividend payments.
Investors seeking more comprehensive analysis can find 11 additional InvestingPro Tips for Silgan Holdings, offering deeper insights into the company's financial health and market position.
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