STAMFORD, Conn. – Silgan Holdings Inc. (NYSE: NYSE:SLGN), a supplier of rigid packaging solutions, has declared a quarterly cash dividend of $0.19 per share, as announced by the company's Board of Directors today. This dividend is scheduled to be paid on June 17, 2024, to shareholders of record as of June 3, 2024.
The upcoming dividend marks the eighty-first consecutive quarter that Silgan has paid a cash dividend on its common stock since 2004, reflecting the company's consistent return of value to its shareholders. The declaration of this dividend continues the company's history of increasing its quarterly cash dividend year over year.
Silgan Holdings, with annual net sales of approximately $6.0 billion in 2023, operates 106 manufacturing facilities across North and South America, Europe, and Asia. The company has established itself as a significant player in the packaging industry, providing a variety of solutions for essential consumer goods. Its products range from dispensing and specialty closures to metal containers and custom packaging for a diverse set of markets including food, beverage, personal care, and home care.
InvestingPro Insights
Silgan Holdings Inc. (NYSE: SLGN) has recently maintained its tradition of rewarding shareholders by announcing another quarterly dividend. This action underscores the company's solid financial foundation and commitment to consistent shareholder returns. Here are some insights based on the latest data from InvestingPro:
The company's market capitalization stands at a robust $5.03 billion, signaling a strong market presence. With a Price/Earnings (P/E) ratio of 16.52, Silgan appears to be valued reasonably in the market, especially when considering its adjusted P/E ratio for the last twelve months as of Q1 2024, which is 15.65. This metric suggests a slightly better valuation in the recent period compared to the standard P/E ratio.
An InvestingPro Tip highlights that Silgan has been aggressively buying back shares, which could be an indicator of management's confidence in the company's value and future prospects. Additionally, the company has a notable track record of dividend reliability, having raised its dividend for 20 consecutive years, which aligns with the recent dividend announcement and reinforces the company's shareholder-friendly approach.
InvestingPro also notes that Silgan's liquid assets exceed its short-term obligations, providing the company with a solid liquidity position. This financial stability is crucial for maintaining and potentially increasing future dividends, as evidenced by the company's long history of dividend payments, now spanning over two decades.
For investors looking for more detailed analysis and additional InvestingPro Tips for Silgan Holdings Inc., there are 6 more tips available on InvestingPro. These could provide deeper insights into the company's financial health and future performance. Interested investors can use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, which includes access to these valuable tips.
As Silgan continues to navigate the packaging industry landscape, these metrics and insights from InvestingPro can help shareholders and potential investors make more informed decisions regarding their investment in the company.
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