Ball announces $250M stock buyback

BROOMFIELD — Ball Corp. (NYSE: BLL) will buy back $250 million of its outstanding common stock.

The buyback is a “privately negotiated, accelerated stock repurchase transaction with Citibank N.A., using cash on hand and available borrowings,” according to a Ball news release.

The repurchase will reduce the company’s outstanding shares by about 4 million.

“This share buyback, which is part of our previously announced planned purchases for the year, is consistent with our balanced capital deployment strategy that includes returning value to shareholders in the form of share buybacks and dividends and investing in EVA-generating growth projects,” Scott Morrison, Ball senior vice president and chief financial officer, said in a prepared statement.

BROOMFIELD — Ball Corp. (NYSE: BLL) will buy back $250 million of its outstanding common stock.

The buyback is a “privately negotiated, accelerated stock repurchase transaction with Citibank N.A., using cash on hand and available borrowings,” according to a Ball news release.

The repurchase will reduce the company’s outstanding shares by about 4 million.

“This share buyback, which is part of our previously announced planned purchases for the year, is consistent with our balanced capital deployment strategy that includes returning value to shareholders in the form of share buybacks and dividends and investing in EVA-generating growth projects,” Scott Morrison, Ball senior vice president and chief financial officer, said in a prepared statement.