The global materials science company specialising in the design and manufacture of labelling materials including HF and UHF labels, Avery Dennison as posted their financial results for the first quarter of 2022, with an announcement that a dividend for the quarterly dividend of $0.75 per share which is an increase of around 10%.
In a press release by the company dated April 26th 2022, the board announced their preliminary unaudited results for Q1 2022 with Earnings per share of $2.39 and net sales increase of 14.5% to $2.3 billion.
“We once again delivered strong financial results amidst a challenging environment, with earnings ahead of expectations,” said Mitch Butier, Avery Dennison chairman and CEO.
“Our strong performance comes at a difficult time as COVID-19 continues, supply chains remain tight and inflationary pressures persist. Despite these challenges, we have raised our outlook and we continue to expect strong top- and bottom-line growth for the year,” said Butier. “We remain confident that the consistent execution of our strategies will enable us to meet our long-term goals for superior value creation through a balance of profitable growth and capital discipline.
“Once again, I want to thank our entire team for their tireless efforts to keep one another safe while continuing to deliver for our customers during this challenging period. The team continues to raise their game each quarter, to address the unique challenges at hand.”
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