Board Declares Quarterly Dividend; Increases Share Repurchase Authorization and Elects New Officer

Rhea-AI Summary

Ball 's board of directors declared a 20 cents per share cash dividend, payable on June 17, 2024, and approved the repurchase of up to 40 million shares of its common stock. The Board also elected Mandy Glew as senior vice president and president, EMEA. The company will announce its first quarter 2024 earnings on April 26th, 2024.

WESTMINSTER, Colo., April 24, 2024 /PRNewswire/ -- Ball Corporation's (NYSE: BALL) board of directors (the "Board") today declared a cash dividend of 20 cents per share, payable June 17, 2024, to shareholders of record as of June 3, 2024. In addition, the board also approved the repurchase by the company of up to a total of 40 million shares of its common stock. The repurchase authorization replaces all previous authorizations.

"Today's increased share repurchase authorization will enable our ongoing multi-year return of capital to shareholders," said Howard Yu, executive vice president and chief financial officer.

The Board also elected Mandy Glew to serve as senior vice president and president, EMEA of the corporation. In March, Ms. Glew was promoted to the role of president, EMEA succeeding Carey Causey, Ball's chief growth officer. Mandy joined Ball in 2020, and previously held the role of vice president, commercial Ball EMEA. Ms. Glew started her career in manufacturing and logistics after which she moved into marketing, commercial and management roles at Proctor & Gamble. She holds a Ph.D. in chemistry from the University of Hull and studied managerial finance at the London School of Economics and Politics.

Ball Corporation will announce its first quarter 2024 earnings on Friday, April 26^th, 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=aiuPuLZY

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 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. Ball Corporation employs 16,000 people worldwide (excluding divested aerospace staff) and reported 2023 net sales of $14.03 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; and b) 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.

 

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SOURCE Ball Corporation

FAQ

When will Ball pay its cash dividend?

Ball will pay a cash dividend on June 17, 2024.

How many shares of its common stock is Ball authorized to repurchase?

Ball is authorized to repurchase up to 40 million shares of its common stock.

Who was elected as the senior vice president and president, EMEA of Ball ?

Mandy Glew was elected as the senior vice president and president, EMEA of Ball

When will Ball announce its first quarter 2024 earnings?

Ball will announce its first quarter 2024 earnings on April 26th, 2024.