RTTNews | Dec 9, 2021 04:41PM EST

16:41 Thursday, December 9, 2021 (RTTNews.com) - Crown Holdings Inc. (CCK) Thursday said that its Board of Directors authorized the repurchase of up to $3.0 billion of stock through the end of 2024.

The company said the new authorization, which supersedes the previous authorization announced on February 25, 2021, reflects its strong balance sheet and cash from operations, allowing investment in the business and return of cash to its shareholders.

CCK closed Thursday's trading at $103.84, down $2.42 or 2.28%, on the NYSE. The stock, however, gained $1.58 or 1.52% in the after-hours trading.

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