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
51.5 cents per share on the Company’s 25 cent par value Common Stock
payable December 26, 2012 to shareholders of record at the close of
business on December 11, 2012. This quarterly dividend payment
accelerates the Company’s regular quarterly dividend, which is normally
paid in early January.
Preferred Stock
42.5 cents per share on the Company’s Third Cumulative Preferred Stock,
$1.70 First Series payable January 1, 2013 to shareholders of record at
the close of business on December 11, 2012.
SAFE HARBOR PROVISIONS FOR FORWARD-LOOKING STATEMENTS:
This press release and our other public pronouncements contain
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, dividend policy, and planned
credit rating, 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:
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sales, volume, earnings, or cash flow growth,
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general economic, political, and industry conditions, including those
that could impact consumer spending,
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competitive conditions, which affect, among other things, customer
preferences and the pricing of products, production, and energy costs,
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competition from lower-priced private label brands,
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increases in the cost and restrictions on the availability of raw
materials, including agricultural commodities and packaging materials,
the ability to increase product prices in response, and the impact on
profitability,
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the ability to identify and anticipate and respond through innovation
to consumer trends,
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the need for product recalls,
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the ability to maintain favorable supplier and customer relationships,
and the financial viability of those suppliers and customers,
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currency valuations and devaluations and interest rate fluctuations,
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changes in credit ratings, leverage, and economic conditions and the
impact of these factors on our cost of borrowing and access to capital
markets,
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our ability to effectuate our strategy, including our continued
evaluation of potential opportunities, such as strategic acquisitions,
joint ventures, divestitures, and other initiatives, our ability to
identify, finance, and complete these transactions and other
initiatives, and our ability to realize anticipated benefits from them,
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the ability to successfully complete cost reduction programs and
increase productivity,
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the ability to effectively integrate acquired businesses,
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new products, packaging innovations, and product mix,
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the effectiveness of advertising, marketing, and promotional programs,
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supply chain efficiency,
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cash flow initiatives,
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risks inherent in litigation, including tax litigation,
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the ability to further penetrate and grow and the risk of doing
business in international markets, particularly our emerging markets;
economic or political instability in those markets, strikes,
nationalization, and the performance of business in hyperinflationary
environments, in each case such as Venezuela; and the uncertain global
macroeconomic environment and sovereign debt issues, particularly in
Europe,
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changes in estimates in critical accounting judgments and changes in
laws and regulations, including tax laws,
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the success of tax planning strategies,
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the possibility of increased pension expense and contributions and
other people-related costs,
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the potential adverse impact of natural disasters, such as flooding
and crop failures, and the potential impact of climate change,
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the ability to implement new information systems, potential
disruptions due to failures in information technology systems, and
risks associated with social media,
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with regard to dividends, dividends must be declared by the Board of
Directors and will be subject to certain legal requirements being met
at the time of declaration, as well as our Board’s view of our
anticipated cash needs, and
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other factors described in “Risk Factors” and “Cautionary Statement
Relevant to Forward-Looking Information” in the Company’s Annual
Report on Form 10-K for the fiscal year ended April 29, 2012 and
reports on Forms 10-Q thereafter.
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”™ is one
of the world’s leading marketers and producers of healthy, convenient
and affordable foods specializing in ketchup, sauces, meals, soups,
snacks and infant nutrition. Heinz provides superior quality, taste and
nutrition for all eating occasions whether in the home, restaurants, the
office or “on-the-go.” Heinz is a global family of leading branded
products, including Heinz® Ketchup, sauces, soups, beans, pasta and
infant foods (representing over one third of Heinz’s total sales),
Ore-Ida® potato products, Weight Watchers® Smart Ones® entrées, T.G.I.
Friday’s® snacks, and Plasmon infant nutrition. Heinz is famous for its
iconic brands on six continents, showcased by Heinz® Ketchup, The
World’s Favorite Ketchup®.
