Message #57 From:
NewsBot Date: March 14, 2007 11:20:00 AM
HNZ News Heinz Declares Quarterly Dividend
PITTSBURGH--(BUSINESS WIRE)--The H. J. Heinz Company (NYSE:HNZ) announced today that its Board of Directors declared quarterly dividends on both common and preferred stock.
DIVIDEND DECLARATION
The Heinz Board declared the following dividends:
Common Stock
35.0 cents per share on the Company’s 25 cent par value Common Stock payable on April 10, 2007 to shareholders of record at the close of business on March 24, 2007.
Preferred Stock
42.5 cents per share on the Company’s Third Cumulative Preferred Stock, $1.70 First Series, payable April 1, 2007 to shareholders of record at the close of business on March 24, 2007.
SAFE HARBOR PROVISIONS FOR FORWARD-LOOKING STATEMENTS:
This press release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are generally identified by the words "will," "expects," "anticipates," "believes," "estimates" or similar expressions and include our expectations as to future revenue growth, earnings, capital expenditures and other spending, as well as anticipated reductions in spending. These forward-looking statements reflect management's view of future events and financial performance. These statements are subject to risks, uncertainties, assumptions and other important factors, many of which may be beyond Heinz's control, and could cause actual results to differ materially from those expressed or implied in these forward-looking statements. Factors that could cause actual results to differ from such statements include, but are not limited to:
sales, earnings, and volume growth,
general economic, political, and industry conditions,
competitive conditions, which affect, among other things, customer preferences and the pricing of products, production, energy and raw material costs,
the ability to identify and anticipate and respond through innovation to consumer trends,
the need for product recalls,
the ability to maintain favorable supplier relationships,
currency valuations and interest rate fluctuations,
changes in credit ratings,
access to the domestic and international capital markets,
the ability to identify and complete and the timing, pricing and success of acquisitions, joint ventures, divestitures and other strategic initiatives,
approval of acquisitions and divestitures by competition authorities, and satisfaction of other legal requirements,
the ability to successfully complete cost reduction programs,
the voting results on shareholder proposals, including the proposed amendments to require majority voting,
the ability to limit disruptions to the business resulting from the emphasis on three core categories and potential divestitures,
the ability to effectively integrate acquired businesses, new product and packaging innovations,
product mix,
the effectiveness of advertising, marketing, and promotional programs,
the ability to maintain sales growth while reducing any spending on advertising, marketing and promotional programs,
supply chain efficiency,
cash flow initiatives,
risks inherent in litigation, including tax litigation, and international operations, particularly the performance of business in hyperinflationary environments,
changes in estimates in critical accounting judgments and changes in laws and regulations, including tax laws,
the success of tax planning strategies,
the possibility of increased pension expense and contributions and other people-related costs,
the possibility of an impairment in Heinz's investments,
the potential adverse impact of natural disasters, such as flooding in Indonesia, and
the ability to implement new information systems; and
other factors described in "Risk Factors" and "Cautionary Statement Relevant to Forward-Looking Information" in the Company's Form 10-K for the fiscal year ended May 3, 2006.
The forward-looking statements are and will be based on management's then current views and assumptions regarding future events and speak only as of their dates. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by the securities laws.
ABOUT HEINZ: H. J. Heinz Company, offering “Good Food Every Day”TM is one of the world’s leading marketers and producers of nutritious foods in ketchup, condiments, sauces, meals, soups, snacks and infant foods. Heinz provides superior quality, taste and nutrition to people eating at home, at restaurants, at the office and “on-the-go.” Heinz is a global family of leading brands, including Heinz® ketchup, sauces, soups, beans, pasta and infant foods (representing nearly one-third of total sales or close to $3 billion), Ore-Ida® potato products, Weight Watchers® Smart Ones® entrees, Boston Market® meals, T.G.I. Friday’s® snacks, and Plasmon infant nutrition. Heinz has number-one or number-two brands on five continents, showcased by Heinz® ketchup, The World’s Favorite Ketchup®. Information on Heinz is available at www.heinz.com.
