Avery Dennison Raises Dividend for 32nd Consecutive Year
Press release from the issuing company
October 30, 2007 - PASADENA, Calif. - The Board of Directors of Avery Dennison Corporation today declared a quarterly cash dividend of $0.41 per share, up 2.5 percent from the previous quarter. The dividend is payable on December 19, 2007, to shareholders of record at the close of business on December 5, 2007.
This is the 32nd consecutive year Avery Dennison has increased its dividend. The Company's annual dividend has grown from $0.0375 per share in 1975 to $1.61 per share in 2007 for a 32-year compound annual growth rate of 12.5 percent. Based on the average closing price of the Company's stock year-to-date, total annual dividends will provide a yield of 2.5 percent for 2007.
Avery Dennison is a global leader in pressure-sensitive labeling materials, retail tag, ticketing and branding systems, and office products. Based in Pasadena, Calif., Avery Dennison is a FORTUNE 500 Company with 2006 sales of $5.6 billion. Following the acquisition of Paxar in 2007, Avery Dennison employs more than 30,000 individuals in 51 countries worldwide, who develop, manufacture and market a wide range of products for both consumer and industrial markets. Products offered by Avery Dennison include: Fasson brand self-adhesive materials; Avery Dennison and Paxar brand products for the retail and apparel industries; Avery brand office products and graphics imaging media; specialty tapes, peel-and-stick postage stamps, and labels for a wide variety of automotive, industrial and durable goods applications.
WhatTheyThink is the global printing industry's leading independent media organization with both print and digital offerings, including WhatTheyThink.com, PrintingNews.com and WhatTheyThink magazine versioned with a Printing News and Wide-Format & Signage edition. Our mission is to provide cogent news and analysis about trends, technologies, operations, and events in all the markets that comprise today’s printing and sign industries including commercial, in-plant, mailing, finishing, sign, display, textile, industrial, finishing, labels, packaging, marketing technology, software and workflow.