Ball Corporation (BLL) will raise its quarterly dividend by 50.0 percent to $0.15 per share. This is the packaging company's first dividend hike since 2017.

The next dividend is payable June 17, 2019, to shareholders of record as of June 3, 2019. A new annual rate of 60 cents yields 1.0% at a stock price of $59.55.

"This dividend increase, coupled with our ongoing share repurchase program, allows us to return significant value to our shareholders while also maintaining the flexibility to continue investing in and growing our business," said Scott C. Morrison, Ball's senior vice president and chief financial officer.

Ball Corporation is a supplier of metal packaging to the beverage, food, personal care and household products industries.  Its major product line is aluminum and steel beverage containers. Its aerospace business designs, develops and manufactures aerospace systems for civil, commercial and national cyber security aerospace markets.