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Avery Dennison: dividend boost announced

Although third-quarter earnings at Avery Dennison rose 11 percent, the US operation said European currency weakness would cut fourth-quarter and 2001 profits.
Net income for the quarter was US$ 73 mi…

Although third-quarter earnings at Avery Dennison rose 11 percent, the US operation said European currency weakness would cut fourth-quarter and 2001 profits. Net income for the quarter was US$ 73 million, against US$ 66 million in the year-earlier period. The company said sales rose 4.2 per cent to a record US$ 1 billion from US$ 961 million. The company declared a quarterly cash dividend of 30 cents per share, an increase of 11.1 percent from the previous dividend of 27 cents per share. The dividend is payable on 20 December to shareholders of record at the close of business on 6 December. According to the company, this is the 25th consecutive year that California-based company has increased dividends.

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