Heinz 4Q profit climbs, raises dividend

Heinz 4Q profit climbs, raises dividend

Pittsburgh : PA : USA | May 26, 2011 at 4:39 AM PDT
Source: Associated Press
Views: Pending

Heinz Co.'s fiscal fourth-quarter profit rose 16 percent as the world's largest ketchup maker expanded its global reach. The Pittsburgh-based food company also raised its dividend by 7 percent. Heinz has looked to emerging markets like Brazil, Russia and India to help fuel its growth recently. The Pittsburgh company has said that emerging markets will generate more than 20 percent of its revenue in fiscal 2012. Heinz said Thursday that its net income rose to $223.9 million, or 69 cents per share, for the period ended April 27. That's up from $192.4 million, or 60 cents per share, a year earlier...Revenue increased 6 percent to $2.89 billion, surpassing Wall Street's estimate of $2.87 billion. Heinz also offered fiscal 2012 earnings guidance that is within analysts' expectations for this year.

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