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Oct. 21, 2020, 6:46 a.m. EDT

Avery Dennison boosts dividend by 6.9%, to yield more than the S&P 500

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By Tomi Kilgore

Avery Dennison Corp. /zigman2/quotes/200970384/composite AVY -0.98% raised on Wednesday its quarterly dividend by 6.9%, to 62 cents a share from 58 cents a share. The materials science and manufacturing company's new dividend will be payable Dec. 16 to shareholders of record on Dec. 2. Based on Tuesday's stock closing price of $134.34, the new annual dividend rate implies a dividend yield of 1.85%, compared with the implied yield for the S&P 500 /zigman2/quotes/210599714/realtime SPX -0.16% of 1.65%, according to FactSet. The company's stock, which is still inactive in the premarket, has edged up 2.7% year to date, while the S&P 500 has gained 6.6%.

/zigman2/quotes/200970384/composite
US : U.S.: NYSE
$ 151.56
-1.50 -0.98%
Volume: 317,399
Nov. 25, 2020 7:00p
P/E Ratio
24.21
Dividend Yield
1.64%
Market Cap
$12.64 billion
Rev. per Employee
$235,670
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/zigman2/quotes/210599714/realtime
US : S&P US
3,629.65
-5.76 -0.16%
Volume: 2.32B
Nov. 25, 2020 5:33p
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