Dividend.com: TWX Kisses AOL Goodbye
Looking ahead, Heinz predicted a fiscal 2010 profit of $2.60 to $2.70 per share, well below analyst estimates of $2.90 per share. However, the company said it sees full-year 2010 sales growth between 4% and 6%, which implies sales between $10.5 billion and $10.7 billion and above analysts' estimates of $10.17 billion.
Heinz also raised its quarterly dividend, albeit slightly to 42 cents per share, up half a penny from 41.5 cents previously. The dividend will be payable on July 10 to shareholders of record as of June 24. Heinz shares were mostly flat in morning trading Thursday. We are still attracted to shares of Heinz at these levels and believe the stock offers an opportunistic risk/reward situation. The company will now have a dividend yield of 4.63% based on the higher payout and last night's closing stock price of $36.26. Heinz is a "recommended" stock, holding a Dividend.com DARS Rating of 3.5 out of 5 stars. Be sure to visit our complete recommended list of the Best Dividend Stocks as well as a detailed explanation of our ratings system.>To order reprints of this article, click here: ReprintsTheStreet Premium Services For Personal Service: 877-471-2967
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