Packaging

Ball Corporation Board Elects John A. Hayes CEO, Declares 2-for-1 Stock Split, Increases Dividend and Repurchase Authorization

Thursday 27. January 2011 - John A. Hayes has been elected CEO of Ball Corporation

Highlights
– John A. Hayes has been elected CEO of Ball Corporation
– Hayes succeeds R. David Hoover, who will remain chairman of the board, as announced in November 2010
– Ball announced a 2-for-1 split of the company’s common stock, which will occur in February
– Ball’s quarterly cash dividend will increase 40 percent, to 7 cents post-split, effective with the March distribution
– The company’s board authorized the repurchase of up to 20 million of post-split shares of Ball’s common stock, replacing all previous authorizations
– The board also elected James N. Peterson vice president, marketing and corporate affairs
– Ball will announce its fourth quarter and full-year earnings on Jan. 27, 2011

Ball Corporation’s (NYSE: BLL) board of directors today elected John A. Hayes the company’s president and chief executive officer. Hayes, 45, succeeds R. David Hoover, who retired as CEO after more than 40 years with the company. Hoover remains chairman of the board.
Ball’s board also announced today a two-for-one split of the company’s common stock, increased the quarterly cash dividend by 40 percent to 7 cents on a post-split basis and authorized the repurchase by the company of up to a total of 20 million post-split shares of its common stock. This repurchase authorization replaces all previous authorizations. Additionally, the board elected James N. Peterson vice president, marketing and corporate affairs.
“I am honored to be elected CEO of Ball Corporation and excited about the opportunities ahead of us to create more value for our shareholders,” Hayes said. “The stock split, dividend increase and stock repurchase authorization announced today return value to our shareholders while maintaining financial flexibility, and reflect management’s expectations of continued strong free cash flow generation and earnings performance.”
Hoover, 65, had been Ball Corporation’s CEO since 2001. During the past 10 years, Ball Corporation’s stock provided shareholders with a total return of more than 547 percent, and the company increased its market capitalization from $2 billion to more than $6 billion.
The distribution date for the stock split will be Feb. 15, 2011, in the form of a 100-percent stock dividend, to shareholders of record on Feb. 4, 2011. The split is the fifth since Ball became a public company in 1972.
The post-split cash dividend of 7 cents per share is payable March 15, 2011, to shareholders of record on March 1, 2011. Ball will announce its fourth quarter and full-year 2010 earnings on Thursday, Jan. 27, 2011. Conference call details are below.
Peterson, 42, joined Ball in 2006 as director, marketing, for Ball’s North American packaging operations. He is responsible for marketing, innovation, sustainability, corporate communications and public affairs.

http://www.ball.com

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Packaging

Ball Corporation Board Elects John A. Hayes CEO, Declares 2-for-1 Stock Split, Increases Dividend and Repurchase Authorization

Thursday 27. January 2011 - - Hayes succeeds R. David Hoover, who will remain chairman of the board, as announced in November 2010

Highlights
– John A. Hayes has been elected CEO of Ball Corporation
– Hayes succeeds R. David Hoover, who will remain chairman of the board, as announced in November 2010
– Ball announced a 2-for-1 split of the company’s common stock, which will occur in February
– Ball’s quarterly cash dividend will increase 40 percent, to 7 cents post-split, effective with the March distribution
– The company’s board authorized the repurchase of up to 20 million of post-split shares of Ball’s common stock, replacing all previous authorizations
– The board also elected James N. Peterson vice president, marketing and corporate affairs
– Ball will announce its fourth quarter and full-year earnings on Jan. 27, 2011
Ball Corporation’s (NYSE: BLL) board of directors today elected John A. Hayes the company’s president and chief executive officer. Hayes, 45, succeeds R. David Hoover, who retired as CEO after more than 40 years with the company. Hoover remains chairman of the board.
Ball’s board also announced today a two-for-one split of the company’s common stock, increased the quarterly cash dividend by 40 percent to 7 cents on a post-split basis and authorized the repurchase by the company of up to a total of 20 million post-split shares of its common stock. This repurchase authorization replaces all previous authorizations. Additionally, the board elected James N. Peterson vice president, marketing and corporate affairs.
“I am honored to be elected CEO of Ball Corporation and excited about the opportunities ahead of us to create more value for our shareholders,” Hayes said. “The stock split, dividend increase and stock repurchase authorization announced today return value to our shareholders while maintaining financial flexibility, and reflect management’s expectations of continued strong free cash flow generation and earnings performance.”
Hoover, 65, had been Ball Corporation’s CEO since 2001. During the past 10 years, Ball Corporation’s stock provided shareholders with a total return of more than 547 percent, and the company increased its market capitalization from $2 billion to more than $6 billion.
The distribution date for the stock split will be Feb. 15, 2011, in the form of a 100-percent stock dividend, to shareholders of record on Feb. 4, 2011. The split is the fifth since Ball became a public company in 1972.
The post-split cash dividend of 7 cents per share is payable March 15, 2011, to shareholders of record on March 1, 2011. Ball will announce its fourth quarter and full-year 2010 earnings on Thursday, Jan. 27, 2011. Conference call details are below.
Peterson, 42, joined Ball in 2006 as director, marketing, for Ball’s North American packaging operations. He is responsible for marketing, innovation, sustainability, corporate communications and public affairs.

http://www.ball.com

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