This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Pinnacle Foods Inc. Announces 17% Increase In Quarterly Dividend

Stocks in this article: PF

PARSIPPANY, N.J., Nov. 18, 2013 /PRNewswire/ -- Pinnacle Foods Inc. (NYSE: PF) announced today that its Board of Directors has approved a 16.7% increase in the Company's quarterly cash dividend, from $0.18 per share to $0.21 per share, effective with the upcoming fourth quarter 2013 dividend.  On an annualized basis, the new dividend increases to $0.84 per share, from the previous $0.72 per share. 

The fourth quarter dividend is payable on January 10, 2014 to shareholders of record at the close of business on December 2, 2013.  

Commenting on the announcement, Pinnacle Chief Executive Officer Bob Gamgort stated, "The recent completion of our acquisition of Wish-Bone, which we expect to be highly accretive, has prompted us to review our quarterly dividend payment.  The increase we are announcing today reflects the expected benefit of Wish-Bone and our strong operating cash flow performance since going public earlier this year.  Our significant free cash flow generated from our business model enables us to create shareholder value through dividends, debt reduction and business reinvestment." 

About Pinnacle Foods Inc. In more than 85% of American households, consumers reach for Pinnacle Foods brands. Pinnacle Foods is a Top 1000 Company as ranked by Fortune Magazine. We are a leading producer, marketer and distributor of high-quality branded food products, which have been trusted household names for decades.  Headquartered in Parsippany, NJ, our business employs an average of 4,400 employees. We are a leader in the shelf stable and frozen foods segments and our brands hold the #1 or #2 market position in 10 of the 12 major categories in which they compete. Our Duncan Hines Grocery Division manages brands such as Duncan Hines ® baking mixes and frostings, Vlasic ® and Vlasic ® Farmer's Garden ® shelf-stable pickles, Wish-Bone ® and Western ® salad dressings, Mrs. Butterworth's ® and Log Cabin ® table syrups, Armour ® canned meats, Brooks ® and Nalley ® chili and chili ingredients, Duncan Hines ® Comstock ® and Wilderness ® pie and pastry fruit fillings and Open Pit ® barbecue sauces. Our Birds Eye Frozen Division manages brands such as Birds Eye ®, Birds Eye Steamfresh ®, C&W ®, McKenzie's ®, and Freshlike ® frozen vegetables, Birds Eye Voila! ® complete bagged frozen meals, Van de Kamp's ® and Mrs. Paul's ® frozen prepared seafood, Hungry-Man ® frozen dinners and entrées, Aunt Jemima ® frozen breakfasts, Lender's ® frozen and refrigerated bagels, and Celeste ® frozen pizza. Our Specialty Foods Division manages Tim's Cascade Snacks ®, Hawaiian ® kettle style potato chips, Erin's ® popcorn, Snyder of Berlin ® and Husman's ® snacks in addition to our food service and private label businesses. Further information is available at

SOURCE Pinnacle Foods Group Inc.

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,778.15 +421.28 2.43%
S&P 500 2,061.23 +48.34 2.40%
NASDAQ 4,748.3960 +104.0840 2.24%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs