Business Context and Reporting Period
Company: Ball Corporation
Filing Type: Form 8-K (Current Report)
Date: July 29, 2004
Reporting Period: Second Quarter 2004 (Earnings disclosed via Regulation FD); Corporate actions announced July 28, 2004.
Key Financial Metrics and Corporate Actions
This filing focuses on capital structure changes and dividend policy rather than detailed financial statements. Specific revenue, profit, cash flow, margin, debt, and liquidity figures are not provided in the text of this 8-K; they are referenced as being contained in an attached press release (Exhibit 99.2) which is not included in the source text.
- Stock Split: Two-for-one split of common stock.
- Dividend: Quarterly cash dividend declared at 10 cents per post-split share.
- Share Repurchase: Authorization to repurchase up to 12 million post-split shares.
Material Changes Versus Prior Period
- Dividend Increase: The new dividend rate represents a 33 percent increase over the previous quarterly dividend of 15 cents per pre-split share (paid since 2002).
- Share Count: The two-for-one split will double the number of outstanding shares effective August 23, 2004.
- Repurchase Program: The new authorization replaces all previous share repurchase authorizations.
Guidance, Outlook, and Management Commentary
The filing does not contain specific forward-looking guidance, risk factors, or management commentary regarding future earnings or market conditions beyond the announcement of the corporate actions. The text notes that the second quarter 2004 sales and earnings results are set forth in the attached press release (Exhibit 99.2), but the specific numbers are not present in this document.
Important Facts for Investor Verification
- Stock Split Dates: Verify the record date (August 4, 2004) and distribution date (August 23, 2004) for the two-for-one split.
- Dividend Payment: Confirm the dividend payment date of September 15, 2004, for shareholders of record on September 1, 2004.
- Repurchase Limits: Note the cap of 12 million post-split shares for the new buyback program.
- Earnings Data: The filing text does not provide clear values for Q2 2004 revenue or earnings; investors must refer to the separate press release (Exhibit 99.2) for these figures.