Crown Holdings (CCK) Authorizes $2.0 Billion Of Share Repurchases

Crown Holdings, Inc. (NYSE: CCK) announced today that its Board of Directors authorized the repurchase of an aggregate amount of up to $2.0 billion of Company stock through the end of 2027. The new authorization, which supersedes the previous authorization announced on December 9, 2021, reflects the Company's strong balance sheet and cash from operations, allowing investment in the business and return of cash to its shareholders.

Commenting on the authorization, Timothy J. Donahue, Chairman, President and Chief Executive Officer, stated, "Share repurchases are an integral part of our longer-term capital allocation strategy. We will continue to remain disciplined stewards of capital as it pertains to investing for growth, returning capital to shareholders, and lowering our debt as we seek to reduce net leverage to 2.5 times. The future of our Company is bright and we look forward to utilizing our robust cash flow towards value creation for shareholders."

Share repurchases under this program may be made in the open market or through privately negotiated transactions, and at times and in such amounts as management deems appropriate. The timing and actual number of shares repurchased will depend on several factors including price, corporate and regulatory requirements and other market conditions.

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