Avery Dennison hikes dividend by 9.7%

Avery Dennison (AVY) will raise its quarterly dividend by 9.7 percent to 68 cents per share in 2021. This follows a dividend hike of 6.9 percent to 62 cents per share announced in 2020 and will mark the 11th consecutive year of dividend increases by the materials company.

The next dividend is payable on June 16, 2021 to shareholders of record as of June 2, 2021. The new dividend yield for AVY is 1.4% based on the annual dividend amount of $2.72 per share and a stock price of $200.

Avery Dennison is a global materials science and manufacturing company specializing in the design and manufacture of labeling and functional materials. The company’s products include pressure-sensitive materials for labels and graphic applications; tapes and other bonding solutions for industrial, medical and retail applications; tags, labels and embellishments for apparel; and radio frequency identification (RFID) solutions serving retail apparel and other markets. Avery Dennison stock was first offered to the public in January 1961 and first traded on the NYSE on June 20, 1967.