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  • Crown Cork & Seal To Suspend Quarterly Dividend To Focus On Debt Reduction

    Friday, December 15, 2000

    PHILADELPHIA, Dec. 15 /PRNewswire/ -- Crown Cork & Seal Company, Inc. (NYSE: CCK) (Paris Bourse: CCK) announced that its Board of Directors voted to suspend the Company's quarterly dividend on its common stock. The next scheduled dividend would have been payable in February 2001 to shareholders of record. The Company's quarterly dividend had been set at $0.25 per share, or an aggregate of approximately $126 million on an annualized basis. The Company intends to dedicate the cash which would have been used to pay dividends towards debt reduction.

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