Crown Holdings, Inc. Declares Dividend And Authorizes Share Repurchases

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Crown Holdings, Inc. (CCK) declared a cash dividend of 20 cents per share, payable on March 25, 2021, to shareholders of record by March 11, 2021. The company also authorized a stock repurchase program of up to $1.5 billion through the end of 2023, reflecting a strong balance sheet and cash flow. This initiative aims to return value to shareholders while investing in the business. The actual buyback will depend on market conditions and corporate requirements.

Positive

• Authorized stock buyback of up to $1.5 billion, enhancing shareholder value.
• Declared dividend of 20 cents per share, indicating confidence in financial stability.

Negative

• None.

YARDLEY, Pa., Feb. 25, 2021 /PRNewswire/ -- Crown Holdings, Inc. (NYSE: CCK) announced today that its Board of Directors declared a cash dividend of 20 cents per share payable March 25, 2021 to shareholders of record as of March 11, 2021.

Crown's Board of Directors also authorized the repurchase of an aggregate amount of up to $1.5 billion of Company common stock through the end of 2023.  The new authorization reflects the Company's strong balance sheet and cash from operations, allowing investment in the business and return of cash to its shareholders.  Stock repurchases under this program may be made in the open market or through privately negotiated transactions, and at times and in such amounts as management deems appropriate.  The timing and actual number of shares repurchased will depend on a variety of factors including price, corporate and regulatory requirements and other market conditions.

Cautionary Note Regarding Forward-Looking Statements

Except for historical information, all other information in this press release consists of forward-looking statements. These forward-looking statements involve a number of risks, uncertainties and other factors, including, without limitation, the outcome and ultimate impact of the ongoing Board-led review, that the Company is not obligated and may not acquire any shares of common stock and the share repurchase plan may be suspended or terminated at any time at the Company's discretion. Important factors that could cause the statements made in this press release or the actual results of operations or financial condition of the Company to differ are discussed under the caption "Forward Looking Statements" in the Company's most recent Form 10-K Annual Report and in subsequent filings made prior to or after the date hereof. The Company does not intend to review or revise any particular forward-looking statement in light of future events.

About Crown Holdings, Inc.

Crown Holdings, Inc., through its subsidiaries, is a leading global supplier of rigid packaging products to consumer marketing companies, as well as transit and protective packaging products, equipment and services to a broad range of end markets. World headquarters are located in Yardley, Pennsylvania. For more information, visit www.crowncork.com.  

For more information, contact:
Thomas A. Kelly, Senior Vice President and Chief Financial Officer, (215) 698-5341, or
Thomas T. Fischer, Vice President, Investor Relations and Corporate Affairs, (215) 552-3720

 

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SOURCE Crown Holdings, Inc.

FAQ

What is the dividend amount declared by Crown Holdings, Inc. (CCK)?

Crown Holdings, Inc. declared a cash dividend of 20 cents per share.

When will the dividend be paid to shareholders?

The dividend will be payable on March 25, 2021, to shareholders of record as of March 11, 2021.

What stock repurchase amount has Crown Holdings, Inc. (CCK) authorized?

Crown Holdings, Inc. has authorized a stock repurchase program of up to $1.5 billion.

What is the purpose of the stock buyback by Crown Holdings, Inc. (CCK)?

The stock buyback aims to return cash to shareholders while allowing for business investments.

Until when is the stock repurchase program authorized?

The stock repurchase program is authorized through the end of 2023.