Declared Dividend • May 02
First quarter dividend increased to US$1.00 Dividend of US$1.00 is 6.4% higher than last year. Ex-date: 3rd June 2026 Payment date: 17th June 2026 Dividend yield will be 2.3%, which is lower than the industry average of 2.9%. Sustainability & Growth Dividend is well covered by both earnings (42% earnings payout ratio) and cash flows (34% cash payout ratio). The dividend has increased by an average of 9.8% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 38% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • May 01
Avery Dennison Increases Quarterly Dividend for the Second Quarter of 2026, Payable on June 17, 2026 Avery Dennison Corporation announced that its Board of Directors has increased the company’s quarterly dividend. The board declared a quarterly dividend of $1.00 per share, representing an increase of approximately 6% over the previous dividend rate. The dividend for the second quarter is payable on June 17, 2026 to shareholders of record as of June 3, 2026. Announcement • Apr 29
Avery Dennison Corporation Provides Earnings Guidance for the Second Quarter 2026 Avery Dennison Corporation provided earnings guidance for the second quarter 2026. The company expected second quarter 2026 reported earnings per share of $2.21 to $2.31. Reported Earnings • Apr 28
First quarter 2026 earnings released: EPS: US$2.18 (vs US$2.10 in 1Q 2025) First quarter 2026 results: EPS: US$2.18 (up from US$2.10 in 1Q 2025). Revenue: US$2.30b (up 7.0% from 1Q 2025). Net income: US$168.1m (up 1.1% from 1Q 2025). Profit margin: 7.3% (down from 7.7% in 1Q 2025). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 3.9% p.a. on average during the next 3 years, compared to a 2.8% growth forecast for the Packaging industry in Europe. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Announcement • Apr 01
Avery Dennison Corporation to Report Q1, 2026 Results on Apr 28, 2026 Avery Dennison Corporation announced that they will report Q1, 2026 results at 6:45 AM, US Eastern Standard Time on Apr 28, 2026 Announcement • Mar 13
Avery Dennison Corporation, Annual General Meeting, Apr 30, 2026 Avery Dennison Corporation, Annual General Meeting, Apr 30, 2026. Upcoming Dividend • Feb 25
Upcoming dividend of US$0.94 per share Eligible shareholders must have bought the stock before 04 March 2026. Payment date: 18 March 2026. Payout ratio is a comfortable 42% and this is well supported by cash flows. Trailing yield: 1.9%. Lower than top quartile of British dividend payers (5.2%). Lower than average of industry peers (3.8%). Declared Dividend • Feb 06
Fourth quarter dividend of US$0.94 announced Shareholders will receive a dividend of US$0.94. Ex-date: 4th March 2026 Payment date: 18th March 2026 Dividend yield will be 1.9%, which is lower than the industry average of 2.9%. Sustainability & Growth Dividend is well covered by both earnings (42% earnings payout ratio) and cash flows (43% cash payout ratio). The dividend has increased by an average of 9.8% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 37% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Feb 05
Full year 2025 earnings released: EPS: US$8.79 (vs US$8.77 in FY 2024) Full year 2025 results: EPS: US$8.79. Revenue: US$8.86b (up 1.1% from FY 2024). Net income: US$688.0m (down 2.4% from FY 2024). Profit margin: 7.8% (down from 8.1% in FY 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 4.4% p.a. on average during the next 3 years, compared to a 2.3% growth forecast for the Packaging industry in Europe. Announcement • Jan 07
Avery Dennison Corporation to Report Q4, 2025 Results on Feb 04, 2026 Avery Dennison Corporation announced that they will report Q4, 2025 results at 6:45 AM, US Eastern Standard Time on Feb 04, 2026 Upcoming Dividend • Nov 26
Upcoming dividend of US$0.94 per share Eligible shareholders must have bought the stock before 03 December 2025. Payment date: 17 December 2025. Payout ratio is a comfortable 41% and this is well supported by cash flows. Trailing yield: 2.2%. Lower than top quartile of British dividend payers (5.7%). Lower than average of industry peers (4.1%). Declared Dividend • Oct 27
Third quarter dividend of US$0.94 announced Shareholders will receive a dividend of US$0.94. Ex-date: 3rd December 2025 Payment date: 17th December 2025 Dividend yield will be 2.0%, which is lower than the industry average of 2.9%. Sustainability & Growth Dividend is well covered by both earnings (10% earnings payout ratio) and cash flows (45% cash payout ratio). The dividend has increased by an average of 10% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 34% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Oct 24
Avery Dennison Corporation Declares Quarterly Cash Dividend, Payable on December 17, 2025 Avery Dennison Corporation announced that its Board of Directors has declared a quarterly cash dividend of $0.94 per share. The dividend is payable on December 17, 2025 to shareholders of record on December 3, 2025. Reported Earnings • Oct 23
Third quarter 2025 earnings released: EPS: US$2.13 (vs US$2.26 in 3Q 2024) Third quarter 2025 results: EPS: US$2.13 (down from US$2.26 in 3Q 2024). Revenue: US$2.22b (up 1.5% from 3Q 2024). Net income: US$166.3m (down 8.5% from 3Q 2024). Profit margin: 7.5% (down from 8.3% in 3Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 4.3% p.a. on average during the next 3 years, compared to a 2.6% growth forecast for the Packaging industry in Europe. Over the last 3 years on average, earnings per share has increased by 1% per year whereas the company’s share price has increased by 3% per year. Announcement • Oct 22
Avery Dennison Corporation Provides Earnings Guidance for the Fourth Quarter Ending December 31, 2025 Avery Dennison Corporation provided earnings guidance for the fourth quarter ending December 31, 2025. For the quarter, the company expected earnings per share to be between $2.15 to $2.25. They expect reported sales growth of 5% to 7%, with the following contributing factors. Upcoming Dividend • Aug 27
Upcoming dividend of US$0.94 per share Eligible shareholders must have bought the stock before 03 September 2025. Payment date: 17 September 2025. Payout ratio is a comfortable 40% and this is well supported by cash flows. Trailing yield: 2.2%. Lower than top quartile of British dividend payers (5.4%). Lower than average of industry peers (3.6%). Declared Dividend • Jul 27
Second quarter dividend of US$0.94 announced Shareholders will receive a dividend of US$0.94. Ex-date: 3rd September 2025 Payment date: 17th September 2025 Dividend yield will be 2.0%, which is lower than the industry average of 2.9%. Sustainability & Growth Dividend is well covered by both earnings (40% earnings payout ratio) and cash flows (49% cash payout ratio). The dividend has increased by an average of 10% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 29% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Jul 23
Second quarter 2025 earnings released: EPS: US$2.41 (vs US$2.19 in 2Q 2024) Second quarter 2025 results: EPS: US$2.41 (up from US$2.19 in 2Q 2024). Revenue: US$2.22b (flat on 2Q 2024). Net income: US$189.0m (up 6.9% from 2Q 2024). Profit margin: 8.5% (up from 7.9% in 2Q 2024). Revenue is forecast to grow 4.0% p.a. on average during the next 3 years, compared to a 2.7% growth forecast for the Packaging industry in Europe. Over the last 3 years on average, earnings per share has fallen by 2% per year whereas the company’s share price has remained flat. Announcement • Jul 22
Avery Dennison Corporation Provides Earnings Guidance for the Third Quarter of 2025 Avery Dennison Corporation provided earnings guidance for the third quarter of 2025. For the quarter, the company expects reported earnings per share to be between $2.14 to $2.30. Announcement • Jul 02
Avery Dennison Corporation to Report Q2, 2025 Results on Jul 22, 2025 Avery Dennison Corporation announced that they will report Q2, 2025 results at 6:45 AM, US Eastern Standard Time on Jul 22, 2025 Upcoming Dividend • May 28
Upcoming dividend of US$0.94 per share Eligible shareholders must have bought the stock before 04 June 2025. Payment date: 18 June 2025. Payout ratio is a comfortable 40% and this is well supported by cash flows. Trailing yield: 1.9%. Lower than top quartile of British dividend payers (5.7%). Lower than average of industry peers (3.3%). Declared Dividend • Apr 27
First quarter dividend increased to US$0.94 Dividend of US$0.94 is 6.8% higher than last year. Ex-date: 4th June 2025 Payment date: 18th June 2025 Dividend yield will be 2.1%, which is lower than the industry average of 2.9%. Sustainability & Growth Dividend is well covered by both earnings (40% earnings payout ratio) and cash flows (48% cash payout ratio). The dividend has increased by an average of 9.7% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 30% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Apr 25
Avery Dennison Corporation Provides Earnings Guidance for the Second Quarter of 2025 Avery Dennison Corporation provided earnings guidance for the second quarter of 2025. For the second quarter, the company expects reported earnings per share to be $2.25 to $2.45. Announcement • Apr 24
Avery Dennison Corporation Increases Quarterly Dividend, Payable on June 18, 2025 Avery Dennison Corporation announced that its Board of Directors has increased the company’s quarterly dividend. The board declared a quarterly dividend of $0.94 per share, representing an increase of approximately 7% over the previous dividend rate. The dividend for the second quarter is payable on June 18, 2025 to shareholders of record as of June 4, 2025. Reported Earnings • Apr 23
First quarter 2025 earnings released: EPS: US$2.09 (vs US$2.14 in 1Q 2024) First quarter 2025 results: EPS: US$2.09 (down from US$2.14 in 1Q 2024). Revenue: US$2.15b (flat on 1Q 2024). Net income: US$166.3m (down 3.5% from 1Q 2024). Profit margin: 7.7% (down from 8.0% in 1Q 2024). Revenue is forecast to grow 3.8% p.a. on average during the next 3 years, compared to a 3.3% growth forecast for the Packaging industry in Europe. Over the last 3 years on average, earnings per share has fallen by 5% per year whereas the company’s share price has fallen by 1% per year. Announcement • Apr 03
Avery Dennison Corporation to Report Q1, 2025 Results on Apr 23, 2025 Avery Dennison Corporation announced that they will report Q1, 2025 results at 6:45 AM, US Eastern Standard Time on Apr 23, 2025 Announcement • Mar 31
Avery Dennison Corporation Announces CFO Changes Effective April 1, 2025, Gregory S. Lovins, Senior Vice President and Chief Financial Officer of Avery Dennison Corporation, will resume serving as the Company’s principal financial officer following a previously disclosed medical leave of absence that began on November 14, 2024. Danny G. Allouche will cease serving as the Company’s Interim Chief Financial Officer and principal financial officer on March 31, 2025; he will continue serving as the Company’s Senior Vice President and Chief Strategy and Corporate Development Officer. Announcement • Mar 10
Avery Dennison Corporation, Annual General Meeting, Apr 24, 2025 Avery Dennison Corporation, Annual General Meeting, Apr 24, 2025. Recent Insider Transactions • Mar 07
Executive Chairman recently sold US$1.5m worth of stock On the 3rd of March, Mitchell Butier sold around 8k shares on-market at roughly US$186 per share. This transaction amounted to 2.5% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Mitchell's only on-market trade for the last 12 months. Upcoming Dividend • Feb 26
Upcoming dividend of US$0.88 per share Eligible shareholders must have bought the stock before 05 March 2025. Payment date: 19 March 2025. Payout ratio is a comfortable 40% and this is well supported by cash flows. Trailing yield: 1.9%. Lower than top quartile of British dividend payers (5.7%). Lower than average of industry peers (3.2%). Declared Dividend • Feb 01
Fourth quarter dividend of US$0.88 announced Shareholders will receive a dividend of US$0.88. Ex-date: 5th March 2025 Payment date: 19th March 2025 Dividend yield will be 1.9%, which is lower than the industry average of 2.9%. Sustainability & Growth Dividend is well covered by both earnings (40% earnings payout ratio) and cash flows (40% cash payout ratio). The dividend has increased by an average of 9.7% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 29% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Jan 31
Full year 2024 earnings released: EPS: US$8.74 (vs US$6.23 in FY 2023) Full year 2024 results: EPS: US$8.74 (up from US$6.23 in FY 2023). Revenue: US$8.76b (up 4.7% from FY 2023). Net income: US$704.9m (up 40% from FY 2023). Profit margin: 8.1% (up from 6.0% in FY 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 4.6% p.a. on average during the next 3 years, compared to a 3.7% growth forecast for the Packaging industry in Europe. Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Announcement • Jan 10
Avery Dennison Corporation to Report Q4, 2024 Results on Jan 30, 2025 Avery Dennison Corporation announced that they will report Q4, 2024 results at 6:45 AM, US Eastern Standard Time on Jan 30, 2025 Announcement • Jan 02
Avery Dennison Corporation Announces Resignation of Martha N. Sullivan from the Board Avery Dennison Corporation announced on December 27, 2024, Martha N. Sullivan, a 12-year member of the Board of Directors (the “Board”) of Avery Dennison Corporation, a Delaware corporation (the “Company”), notified the Company’s Executive Chairman, its Chief Executive Officer, the Board’s Lead Independent Director and the Board’s Governance Committee Chair of her decision to resign from the Board effective December 31, 2024 to pursue new professional opportunities. Ms. Sullivan’s resignation was not a result of any disagreement with the Company on any matter relating to its operations, policies or practices. Recent Insider Transactions • Nov 29
Senior VP & Chief Information Officer recently sold US$758k worth of stock On the 25th of November, Nicholas Colisto sold around 4k shares on-market at roughly US$206 per share. This transaction amounted to 34% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of US$7.0m more than they bought in the last 12 months. Upcoming Dividend • Nov 27
Upcoming dividend of US$0.88 per share Eligible shareholders must have bought the stock before 04 December 2024. Payment date: 18 December 2024. Payout ratio is a comfortable 40% and this is well supported by cash flows. Trailing yield: 1.7%. Lower than top quartile of British dividend payers (5.8%). Lower than average of industry peers (3.4%). Declared Dividend • Oct 28
Third quarter dividend of US$0.88 announced Shareholders will receive a dividend of US$0.88. Ex-date: 4th December 2024 Payment date: 18th December 2024 Dividend yield will be 1.7%, which is lower than the industry average of 2.9%. Sustainability & Growth Dividend is well covered by both earnings (40% earnings payout ratio) and cash flows (44% cash payout ratio). The dividend has increased by an average of 12% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 38% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Oct 25
Avery Dennison Corporation Declares Quarterly Cash Dividend, Payable on December 18, 2024 The Board of Directors of Avery Dennison Corporation has declared a quarterly cash dividend of $0.88 per share. The dividend is payable on December 18, 2024 to shareholders of record on December 4, 2024. Reported Earnings • Oct 24
Third quarter 2024 earnings released: EPS: US$2.25 (vs US$1.72 in 3Q 2023) Third quarter 2024 results: EPS: US$2.25 (up from US$1.72 in 3Q 2023). Revenue: US$2.18b (up 4.1% from 3Q 2023). Net income: US$181.7m (up 31% from 3Q 2023). Profit margin: 8.3% (up from 6.6% in 3Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 4.9% p.a. on average during the next 3 years, compared to a 4.0% growth forecast for the Packaging industry in Europe. Over the last 3 years on average, earnings per share has fallen by 10% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Announcement • Oct 23
Avery Dennison Corporation Revises Earnings Guidance for the Full Year 2024 Avery Dennison Corporation revised earnings guidance for the full year 2024. for the year, the company revised its guidance range of reported earnings per share from $8.75 to $8.95 to $8.75 to $8.90. Announcement • Oct 01
Avery Dennison Corporation to Report Q3, 2024 Results on Oct 23, 2024 Avery Dennison Corporation announced that they will report Q3, 2024 results at 6:45 AM, US Eastern Standard Time on Oct 23, 2024 Upcoming Dividend • Aug 28
Upcoming dividend of US$0.88 per share Eligible shareholders must have bought the stock before 04 September 2024. Payment date: 18 September 2024. Payout ratio is a comfortable 42% and this is well supported by cash flows. Trailing yield: 1.6%. Lower than top quartile of British dividend payers (5.4%). Lower than average of industry peers (3.4%). Declared Dividend • Jul 29
Second quarter dividend of US$0.88 announced Shareholders will receive a dividend of US$0.88. Ex-date: 4th September 2024 Payment date: 18th September 2024 Dividend yield will be 1.6%, which is lower than the industry average of 2.9%. Sustainability & Growth Dividend is well covered by both earnings (42% earnings payout ratio) and cash flows (41% cash payout ratio). The dividend has increased by an average of 12% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 41% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Jul 25
Avery Dennison Corporation Declares Quarterly Dividend, Payable on September 18, 2024 The Board of Directors of Avery Dennison Corporation declared a quarterly cash dividend of $0.88 per share. The dividend is payable on September 18, 2024 to shareholders of record on September 4, 2024. Reported Earnings • Jul 24
Second quarter 2024 earnings released: EPS: US$2.18 (vs US$1.24 in 2Q 2023) Second quarter 2024 results: EPS: US$2.18 (up from US$1.24 in 2Q 2023). Revenue: US$2.24b (up 6.9% from 2Q 2023). Net income: US$176.8m (up 76% from 2Q 2023). Profit margin: 7.9% (up from 4.8% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 5.0% p.a. on average during the next 3 years, compared to a 4.0% growth forecast for the Packaging industry in Europe. Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Announcement • Jul 23
Avery Dennison Corporation Revises Earnings Guidance for the Year 2024 Avery Dennison Corporation revised earnings guidance for the year 2024. For the year, the company has revised its guidance range reported earnings per share from $8.60 to $9.10 to $8.75 to $8.95. Announcement • Jul 03
Avery Dennison Corporation(NYSE:AVY) dropped from Russell 1000 Dynamic Index Avery Dennison Corporation(NYSE:AVY) dropped from Russell 1000 Dynamic Index Board Change • Jul 01
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Director Ward Dickson was the last director to join the board, commencing their role in 2024. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Announcement • Jun 05
Avery Dennison Corporation Appoints Ward Dickson to Board of Directors Avery Dennison Corporation announced that its board of directors has appointed Ward Dickson as a director, effective June 1, 2024. Dickson, 61, served as executive vice president and chief financial officer for WestRock Company, a leading sustainable, fiber-based packaging solutions company with $20.3 billion in fiscal 2023 revenues, from July 2015 to November 2021. Dickson served in the same capacity at RockTenn Company, one of WestRock’s predecessor companies, from September 2013 to July 2015. He previously served in finance positions of increasing responsibility at Cisco Systems Inc. Dickson has a BS in Business from Indiana University. Upcoming Dividend • May 29
Upcoming dividend of US$0.88 per share Eligible shareholders must have bought the stock before 05 June 2024. Payment date: 20 June 2024. Payout ratio is a comfortable 47% and this is well supported by cash flows. Trailing yield: 1.6%. Lower than top quartile of British dividend payers (5.7%). Lower than average of industry peers (3.3%). Recent Insider Transactions • May 22
President of Solutions Group recently sold US$851k worth of stock On the 20th of May, Francisco Melo sold around 4k shares on-market at roughly US$227 per share. This transaction amounted to 20% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth US$1.1m. Insiders have been net sellers, collectively disposing of US$7.0m more than they bought in the last 12 months. Declared Dividend • Apr 29
First quarter dividend increased to US$0.88 Dividend of US$0.88 is 8.6% higher than last year. Ex-date: 5th June 2024 Payment date: 20th June 2024 Dividend yield will be 1.5%, which is lower than the industry average of 2.9%. Sustainability & Growth Dividend is well covered by both earnings (47% earnings payout ratio) and cash flows (39% cash payout ratio). The dividend has increased by an average of 11% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 45% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Apr 26
Avery Dennison Corporation Increases Quarterly Dividend, Payable on June 20, 2024 Avery Dennison Corporation announced that its Board of Directors has increased the company’s quarterly dividend. The board declared a quarterly dividend of $0.88 per share, representing an increase of approximately 9% over the previous dividend rate. The dividend for the second quarter is payable on June 20, 2024 to shareholders of record as of June 5, 2024. Reported Earnings • Apr 24
First quarter 2024 earnings released: EPS: US$2.13 (vs US$1.50 in 1Q 2023) First quarter 2024 results: EPS: US$2.13 (up from US$1.50 in 1Q 2023). Revenue: US$2.15b (up 4.2% from 1Q 2023). Net income: US$172.4m (up 42% from 1Q 2023). Profit margin: 8.0% (up from 5.9% in 1Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 4.8% p.a. on average during the next 3 years, compared to a 3.3% growth forecast for the Packaging industry in Europe. Over the last 3 years on average, earnings per share has fallen by 10% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Announcement • Apr 24
Avery Dennison Corporation Revises Earnings Guidance for the Fiscal Year 2024 Avery Dennison Corporation revised earnings guidance for the fiscal year 2024. The company has revised its guidance range for 2024 reported earnings per share from $8.65 to $9.15 to $8.60 to $9.10. Announcement • Apr 02
Avery Dennison Corporation to Report Q1, 2024 Results on Apr 24, 2024 Avery Dennison Corporation announced that they will report Q1, 2024 results at 6:45 AM, US Eastern Standard Time on Apr 24, 2024 Announcement • Mar 12
Avery Dennison Corporation, Annual General Meeting, Apr 25, 2024 Avery Dennison Corporation, Annual General Meeting, Apr 25, 2024, at 14:30 Eastern Standard Time. Agenda: To Election of directors; to Advisory vote to approve executive compensation; to Approval of a Certificate of Amendment to our Amended and Restated Certificate of Incorporation to provide that stockholders holding 25% of outstanding common stock have the right to request that we call special meetings of stockholders; and to Ratification of appointment of PwC as our independent registered public accounting firm for FY 2024. Recent Insider Transactions • Mar 01
Senior VP & Chief Legal Officer recently sold US$1.1m worth of stock On the 26th of February, Ignacio Walker sold around 5k shares on-market at roughly US$214 per share. This transaction amounted to 43% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth US$1.1m. Insiders have been net sellers, collectively disposing of US$6.2m more than they bought in the last 12 months. Announcement • Feb 27
Avery Dennison Corporation Appoints Maria Fernanda Mejia as Director Avery Dennison Corporation announced that its board of directors has appointed Maria Fernanda Mejia as director, effective February 22, 2024. Mejia, 60, is the retired CEO, International, for Newell Brands Inc. Mejia joined Newell Brands Inc. from the Kellogg Company where she was senior vice president and president of Kellogg Latin America between 2011 and 2019. She previously served in positions of increasing responsibility at Colgate-Palmolive in the U.S., Latin America, Asia and Europe. Mejia has a BS in Industrial Distribution from Texas A&M University. Upcoming Dividend • Feb 27
Upcoming dividend of US$0.81 per share Eligible shareholders must have bought the stock before 05 March 2024. Payment date: 20 March 2024. Payout ratio is a comfortable 51% and this is well supported by cash flows. Trailing yield: 1.5%. Lower than top quartile of British dividend payers (6.3%). Lower than average of industry peers (3.7%). Reported Earnings • Feb 23
Full year 2023 earnings released: EPS: US$6.23 (vs US$9.28 in FY 2022) Full year 2023 results: EPS: US$6.23 (down from US$9.28 in FY 2022). Revenue: US$8.36b (down 7.5% from FY 2022). Net income: US$503.0m (down 34% from FY 2022). Profit margin: 6.0% (down from 8.4% in FY 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 4.7% p.a. on average during the next 3 years, compared to a 2.8% growth forecast for the Packaging industry in Europe. Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings. Recent Insider Transactions • Feb 07
Insider recently sold US$990k worth of stock On the 2nd of February, Deena Baker-Nel sold around 5k shares on-market at roughly US$198 per share. This transaction amounted to 62% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of US$4.2m more than they bought in the last 12 months. Declared Dividend • Feb 02
Fourth quarter dividend of US$0.81 announced Shareholders will receive a dividend of US$0.81. Ex-date: 5th March 2024 Payment date: 20th March 2024 Dividend yield will be 1.6%, which is lower than the industry average of 2.9%. Sustainability & Growth Dividend is covered by both earnings (52% earnings payout ratio) and cash flows (48% cash payout ratio). The dividend has increased by an average of 11% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 45% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Feb 01
Full year 2023 earnings released: EPS: US$6.20 (vs US$9.28 in FY 2022) Full year 2023 results: EPS: US$6.20 (down from US$9.28 in FY 2022). Revenue: US$8.36b (down 7.5% from FY 2022). Net income: US$503.0m (down 34% from FY 2022). Profit margin: 6.0% (down from 8.4% in FY 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 4.8% p.a. on average during the next 3 years, compared to a 2.2% growth forecast for the Packaging industry in Europe. Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has increased by 9% per year, which means it is well ahead of earnings. Announcement • Jan 13
Avery Dennison Corporation to Report Q4, 2023 Results on Jan 31, 2024 Avery Dennison Corporation announced that they will report Q4, 2023 results at 6:45 AM, US Eastern Standard Time on Jan 31, 2024 Buying Opportunity • Dec 05
Now 21% undervalued Over the last 90 days, the stock is up 5.3%. The fair value is estimated to be US$245, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 7.7% over the last 3 years, while earnings per share has been flat. For the next 3 years, revenue is forecast to grow by 4.8% per annum. Earnings is also forecast to grow by 17% per annum over the same time period. Upcoming Dividend • Nov 28
Upcoming dividend of US$0.81 per share at 1.7% yield Eligible shareholders must have bought the stock before 05 December 2023. Payment date: 20 December 2023. Payout ratio is a comfortable 52% and this is well supported by cash flows. Trailing yield: 1.7%. Lower than top quartile of British dividend payers (6.2%). Lower than average of industry peers (4.0%). Announcement • Nov 23
Anthony K. Anderson Resigns as Executive Chairman of the Board of Directors of Avery Dennison Corporation On November 20, 2023, Anthony K. Anderson notified the Executive Chairman of the Board of Directors of Avery Dennison Corporation of his decision to resign from the Board effective November 30, 2023. Announcement • Oct 28
Avery Dennison Declares Quarterly Dividend, Payable on December 20, 2023 Avery Dennison Corporation declared a quarterly cash dividend of $0.81 per share. The dividend is payable on December 20, 2023, to shareholders of record on December 6, 2023. Announcement • Oct 26
Avery Dennison Corporation Provides Earnings Guidance for the Fourth Quarter 2023 Avery Dennison Corporation provided earnings guidance for the fourth quarter 2023. The company expects fourth quarter 2023 earnings per share of $2.05 to $2.20. Reported Earnings • Oct 26
Third quarter 2023 earnings released: EPS: US$1.71 (vs US$2.73 in 3Q 2022) Third quarter 2023 results: EPS: US$1.71 (down from US$2.73 in 3Q 2022). Revenue: US$2.10b (down 9.4% from 3Q 2022). Net income: US$138.3m (down 38% from 3Q 2022). Profit margin: 6.6% (down from 9.6% in 3Q 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 5.2% p.a. on average during the next 3 years, compared to a 2.2% growth forecast for the Packaging industry in Europe. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has increased by 9% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Oct 12
Avery Dennison Corporation (NYSE:AVY) agreed to acquire Silver Crystal Group Inc. Avery Dennison Corporation (NYSE:AVY) agreed to acquire Silver Crystal Group Inc. on October 11, 2023. Silver Crystal Group has revenues of approximately $30 million. The transaction is expected to close in the last quarter of 2023. Announcement • Oct 07
Avery Dennison Corporation to Report Q3, 2023 Results on Oct 25, 2023 Avery Dennison Corporation announced that they will report Q3, 2023 results at 6:45 AM, US Eastern Standard Time on Oct 25, 2023 Buying Opportunity • Oct 06
Now 21% undervalued Over the last 90 days, the stock is up 5.0%. The fair value is estimated to be US$229, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 10.0% over the last 3 years. Earnings per share has grown by 8.9%. For the next 3 years, revenue is forecast to grow by 4.9% per annum. Earnings is also forecast to grow by 15% per annum over the same time period. Buying Opportunity • Sep 18
Now 20% undervalued Over the last 90 days, the stock is up 7.2%. The fair value is estimated to be US$226, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 10.0% over the last 3 years. Earnings per share has grown by 8.9%. For the next 3 years, revenue is forecast to grow by 5.3% per annum. Earnings is also forecast to grow by 15% per annum over the same time period. Announcement • Sep 06
Avery Dennison Corporation Announces Resignation of Hassan Rmaile as President, Materials Group Worldwide Avery Dennison Corporation announced that on August 30, 2023, Hassan Rmaile, President, Materials Group Worldwide, informed the Company of his decision to resign from his position and accept another opportunity. Mr. Rmaile will leave the Company on September 5, 2023. Recent Insider Transactions • Aug 30
Independent Director recently sold US$1.0m worth of stock On the 28th of August, Julia Stewart sold around 6k shares on-market at roughly US$186 per share. This transaction amounted to 26% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of US$3.6m more than they bought in the last 12 months. Upcoming Dividend • Aug 29
Upcoming dividend of US$0.81 per share at 1.7% yield Eligible shareholders must have bought the stock before 05 September 2023. Payment date: 20 September 2023. Payout ratio is a comfortable 44% and this is well supported by cash flows. Trailing yield: 1.7%. Lower than top quartile of British dividend payers (6.3%). Lower than average of industry peers (3.6%). Buying Opportunity • Aug 15
Now 21% undervalued Over the last 90 days, the stock is up 8.8%. The fair value is estimated to be US$230, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 10.0% over the last 3 years. Earnings per share has grown by 8.9%. For the next 3 years, revenue is forecast to grow by 5.3% per annum. Earnings is also forecast to grow by 15% per annum over the same time period. Recent Insider Transactions • Aug 04
Insider recently sold US$893k worth of stock On the 1st of August, Francisco Melo sold around 5k shares on-market at roughly US$186 per share. This transaction amounted to 22% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of US$2.6m more than they bought in the last 12 months. Announcement • Jul 26
Avery Dennison Corporation Provides Earnings Guidance for the Third Quarter of 2023 Avery Dennison Corporation provides earnings guidance for the third quarter of 2023. For the period, the company expects third quarter 2023 reported earnings per share of $1.70to $1.90. 
