“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 CEO. “We will announce our first quarter earnings on May 4, 2017, and will provide additional information on our progress to date.”
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 these 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 joined Ball in 2016 from Rexam, where he served as president, beverage packaging, South America. Medeiros succeeds Daniel W. Fisher, who was promoted to COO, global beverage packaging in late 2016. Pires also joined Ball from Rexam in 2016 and had previously served as VP, beverage operations in South America.