UPDATE: Heinz Posts Decline In Q4 Net Profit, Lifts Dividend

H.J. Heinz Co

reported a drop in its fiscal fourth-quarter net earnings. Heinz's quarterly net earnings fell to $175.3 million, or $0.54 per share, from $223.9 million, or $0.69 per share, in the year-ago period. Excluding pre-tax charges, the company earned $0.81 per share. Its sales gained to $3.05 billion from $2.89 billion. Heinz also announced its plans to lift the annualized common stock dividend by $0.14 per share to $2.06 per share. HNZ shares dropped 1.04% to $53.30 in pre-market trading.