Ball Board Declares Quarterly Dividend; Elects New Officers

Rhea-AI Summary

Ball Corporation declares a cash dividend of 20 cents per share, elects three regional business leaders as senior vice presidents, and announces the upcoming earnings release and conference call. The dividend is payable on March 15, 2024, to shareholders of record as of March 1, 2024. The board also appointed Kathleen Pitre, Fauze Villatoro, and Carey Causey as senior vice presidents and announced the upcoming earnings release and conference call.

Insights

Financial Analyst

The declaration of a cash dividend of 20 cents per share by Ball Corporation is a tangible return on investment for shareholders and signals the company's confidence in its financial stability and future earnings. Dividends are a key factor in total shareholder return and are particularly attractive to income-focused investors. This announcement can also be seen as a positive indicator of Ball Corporation's liquidity and its ability to generate cash flow, which is crucial for funding operations and future growth without relying heavily on external financing.

Moreover, the timing of the dividend payment, set for March 15, 2024, could influence the stock's behavior as it approaches the ex-dividend date, which is typically one business day before the record date. Investors must own the stock before the ex-dividend date to be eligible for the dividend, which may increase buying pressure prior to this date. However, the stock may drop by approximately the amount of the dividend after the ex-dividend date, reflecting the payout's deduction from the company's assets.

Market Research Analyst

The election of three existing regional business leaders to senior vice president roles within Ball Corporation may be interpreted by the market as a strategic move to strengthen the company's leadership structure in key regions. Kathleen Pitre, Fauze Villatoro and Carey Causey's promotions could enhance operational efficiency and drive growth initiatives tailored to each region's market dynamics. Investors often scrutinize such leadership changes for potential shifts in corporate strategy and performance outcomes.

Carey Causey's dual role as chief growth officer and interim president, EMEA, until the successor is announced, suggests a period of transition that may affect the company's operations in the region. Stakeholders will likely monitor how these leadership changes align with Ball Corporation's overall strategic objectives and whether they can effectively navigate market challenges and capitalize on opportunities.

WESTMINSTER, Colo., Jan. 24, 2024 /PRNewswire/ -- Ball Corporation's (NYSE: BALL) board of directors (the "Board") today declared a cash dividend of 20 cents per share, payable March 15, 2024, to shareholders of record as of March 1, 2024.

In addition, the board elected three existing regional business leaders to serve as senior vice presidents of the corporation. Kathleen Pitre was named senior vice president and president, North and Central America, Fauze Villatoro was named senior vice president and president, South America and Carey Causey was promoted to senior vice president and chief growth officer. Ms. Causey will also serve as interim president, EMEA until her successor is publicly disclosed later this quarter.

Ball will announce its fourth quarter 2023 earnings on Thursday, February 1, 2024, before trading begins on the New York Stock Exchange. At 9 a.m. Mountain time on that day (11 a.m. Eastern time), Ball will hold its regular quarterly conference call on the company's results and performance. 

Please use the following URL to join via webcast.

https://event.choruscall.com/mediaframe/webcast.html?webcastid=ZhcPstuQ

To participate in the live call Q&A session, North American callers should use the following number, 877-497-9071. International callers should use the following number, +1 201-689-8727.

For those unable to listen to the live call, a taped webcast replay and transcript of the event will be available within 48 hours on Ball's website at www.ball.com/investors under "Events and Presentations".

About Ball Corporation

Ball Corporation supplies innovative, sustainable aluminum packaging solutions for beverage, personal care and household products customers, as well as aerospace and other technologies and services primarily for the U.S. government. Ball Corporation and its subsidiaries employ 21,000 people worldwide and reported 2022 net sales of $15.35 billion. For more information, visit www.ball.com, or connect with us on Facebook or Twitter.

Forward-Looking Statement

This release contains "forward-looking" statements concerning future events and financial performance. Words such as "expects," "anticipates," "estimates," "believes," and similar expressions typically identify forward looking statements, which are generally any statements other than statements of historical fact. Such statements are based on current expectations or views of the future and are subject to risks and uncertainties, which could cause actual results or events to differ materially from those expressed or implied. You should therefore not place undue reliance upon any forward-looking statements, and they should be read in conjunction with, and qualified in their entirety by, the cautionary statements referenced below. Ball undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Key factors, risks and uncertainties that could cause actual outcomes and results to be different are summarized in filings with the Securities and Exchange Commission, including Exhibit 99 in Ball's Form 10-K, which are available on Ball's website and at www.sec.gov. Additional factors that might affect: a) Ball's packaging segments include product capacity, supply, and demand constraints and fluctuations and changes in consumption patterns; availability/cost of raw materials, equipment, and logistics; competitive packaging, pricing and substitution; changes in climate and weather and related events such as drought, wildfires, storms, hurricanes, tornadoes and floods; footprint adjustments and other manufacturing changes, including the startup of new facilities and lines; failure to achieve synergies, productivity improvements or cost reductions; unfavorable mandatory deposit or packaging laws; customer and supplier consolidation; power and supply chain interruptions; changes in major customer or supplier contracts or loss of a major customer or supplier; inability to pass through increased costs; war, political instability and sanctions, including relating to the situation in Russia and Ukraine and its impact on Ball's supply chain and its ability to operate in Europe, the Middle East and Africa regions generally; changes in foreign exchange or tax rates; and tariffs, trade actions, or other governmental actions, including business restrictions and orders affecting goods produced by Ball or in its supply chain, including imported raw materials; b) Ball's aerospace segment include funding, authorization, availability and returns of government and commercial contracts; and delays, extensions and technical uncertainties affecting segment contracts; failure to obtain, or delays in obtaining, required regulatory approvals or clearances for the proposed transaction; any failure by the parties to satisfy any of the other conditions to the proposed transaction; the possibility that the proposed transaction is ultimately not consummated; potential adverse effects of the announcement or results of the proposed transaction on the ability to develop and maintain relationships with personnel and customers, suppliers and others with whom it does business or otherwise on the business, financial condition, results of operations and financial performance; risks related to diversion of management's attention from ongoing business operations due to the proposed transaction; the impact of the proposed transaction on the ability to retain and hire key personnel; and c) Ball as a whole include those listed above plus: the extent to which sustainability-related opportunities arise and can be capitalized upon; changes in senior management, succession, and the ability to attract and retain skilled labor; regulatory actions or issues including those related to tax, environmental, social and governance reporting, competition, environmental, health and workplace safety, including U.S. Federal Drug Administration and other actions or public concerns affecting products filled in Ball's containers, or chemicals or substances used in raw materials or in the manufacturing process; technological developments and innovations; the ability to manage cyber threats; litigation; strikes; disease; pandemic; labor cost changes; inflation; rates of return on assets of Ball's defined benefit retirement plans; pension changes; uncertainties surrounding geopolitical events and governmental policies, including policies, orders, and actions related to COVID-19; reduced cash flow; interest rates affecting Ball's debt; successful or unsuccessful joint ventures, acquisitions and divestitures, and their effects on Ball's operating results and business generally; and potential adverse effects of the announcement or results of the proposed transaction on the market price of Ball Corporation's common stock.

 

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SOURCE Ball Corporation

FAQ

When is Ball Corporation's cash dividend payable?

The cash dividend of 20 cents per share is payable on March 15, 2024.

Who are the newly appointed senior vice presidents at Ball Corporation?

Kathleen Pitre, Fauze Villatoro, and Carey Causey were named as senior vice presidents.

When will Ball Corporation announce its fourth quarter 2023 earnings?

Ball Corporation will announce its fourth quarter 2023 earnings on Thursday, February 1, 2024, before trading begins on the New York Stock Exchange.

How can I join Ball Corporation's quarterly conference call?

To join the quarterly conference call, use the following URL: https://event.choruscall.com/mediaframe/webcast.html?webcastid=ZhcPstuQ. For the live call Q&A session, North American callers should use 877-497-9071, and international callers should use +1 201-689-8727.