Ball Corporation’s (NYSE: BLL) board of directors today announced a two-for-one split of the company’s common stock and increased the quarterly cash dividend by 54 percent to 10 cents on a post-split basis. The company’s existing share repurchase authorization of more than 20 million shares on a post-split basis remains in place.

“The dividend increase represents the initial step in our return of value to shareholders following our 2016 global beverage acquisition, and reflects management’s expectations of significant free cash flow generation and earnings improvement in 2017 and beyond,” said John A. Hayes, chairman, president and chief executive officer. “We will announce our first quarter earnings on May 4, 2017, and will provide additional information on our progress to date.” Conference call details are below.

The distribution date for the stock split will be May 16, 2017, in the form of a 100-percent stock dividend, to shareholders of record on May 8, 2017. The post-split cash dividend of 10 cents per share is payable June 15, 2017, to shareholders of record on June 1, 2017.

In addition to today’s board actions, the company also named Carlos Medeiros, president, Beverage Packaging North and Central America, and promoted Carlos Eduardo Pires to president, Beverage Packaging South America. 

Medeiros, 53, joined Ball in 2016 from Rexam, where he served as president, beverage packaging, South America. Medeiros succeeds Daniel W. Fisher, who was promoted to chief operating officer, global beverage packaging in late 2016. Pires, 49, also joined Ball from Rexam in 2016 and had previously served as vice president, beverage operations in South America.

About Ball Corporation

Ball Corporation supplies innovative, sustainable packaging solutions for beverage, food 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 18,450 people worldwide and reported 2016 sales of $9.1 billion. For more information, visit www.ball.com, or connect with us on Facebook or Twitter.

Conference Call Details

Ball Corporation (NYSE: BLL) will hold its first quarter 2017 earnings call on May 4, 2017, at 9 a.m. Mountain time (11 a.m. Eastern). The North American toll-free number for the call is 800-672-1467. International callers should dial 303-223-4394. Please use the following URL for a webcast of the live call:

http://edge.media-server.com/m/p/99yzkmrb

For those unable to listen to the live call, a taped replay will be available from 11 a.m. Mountain time on May 4, 2017, until 11 a.m. Mountain time on May 11, 2017. To access the replay, call 800-633-8284 (North American callers) or 402-977-9140 (international callers) and use reservation number 21848202. A written transcript of the call will be posted within 48 hours of the call’s conclusion to Ball’s website at www.ball.com/investors under “news and presentations.”