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Shareholders' Equity
 3 Months Ended
Mar. 30, 2025
Equity [Abstract]  
Shareholders' Equity Shareholders’ Equity
Earnings per Share
The following table sets forth the computation of basic and diluted earnings per share:
Three Months Ended
March 30, 2025March 31, 2024
Numerator:
Net income from continuing operations$49,317 $35,512 
Net income from continuing operations attributable to noncontrolling interests(60)(48)
Net income from continuing operations attributable to Sonoco49,257 35,464 
Net income attributable to Sonoco$54,429 $65,177 
Denominator:
Weighted average common shares outstanding98,913 98,498 
Dilutive effect of shared-based compensation429 661 
Diluted outstanding shares99,342 99,159 
Per common share:
Basic earnings per common share:
Net income from continuing operations$0.50 $0.36 
Net income attributable to Sonoco$0.55 $0.66 
Diluted earnings per common share:
Net income from continuing operations$0.50 $0.36 
Net income attributable to Sonoco$0.55 $0.66 
Cash dividends$0.52 $0.51 
No adjustments were made to “Net income attributable to Sonoco” in the computations of net income attributable to Sonoco per common share.
Anti-dilutive Securities
Potentially dilutive securities are calculated in accordance with the treasury stock method, which assumes the proceeds from the exercise of all dilutive stock appreciation rights (“SARs”) are used to repurchase the Company’s common stock. Certain SARs are not dilutive because either the exercise price is greater than the average market price of the stock during the reporting period or assumed repurchases from proceeds from the exercise of the SARs were anti-dilutive. These SARs may become dilutive in the future if the market price of the Company’s common stock appreciates.
The average numbers of SARs that were anti-dilutive and, therefore, not included in the computation of diluted earnings per share during the three-month periods ended March 30, 2025 and March 31, 2024 were as follows (in thousands):
Three Months Ended
March 30, 2025March 31, 2024
Anti-dilutive stock appreciation rights548 340 
Stock Repurchases
On April 20, 2021, the Company’s Board of Directors (the “Board”) authorized the repurchase of the Company’s common stock in an aggregate amount of up to $350,000. Following several repurchase transactions in 2021, a total of $137,972 remained available for share repurchases under this authorization as of December 31, 2021. Subsequent to 2021, no additional shares have been repurchased under this authorization.
The Company regularly repurchases shares of its common stock to satisfy employee tax withholding obligations in association with certain share-based compensation awards. These repurchases, which are not part of a publicly announced plan or program, totaled 220 shares during the three-month period ended March 30, 2025, at a cost of $10,573, and 162 shares during the three-month period ended March 31, 2024, at a cost of $9,139.
Dividend Declarations
On February 12, 2025, the Board declared a regular quarterly dividend of $0.52 per share. This dividend was paid on March 10, 2025 to all shareholders of record as of February 26, 2025.
On April 16, 2025, the Board declared a regular quarterly dividend of $0.53 per share. This dividend is payable on
June 10, 2025 to all shareholders of record as of May 9, 2025.