UPDATE: Heinz Reports Q1 Profit of $223.9 million, Lifts Dividend

H.J. Heinz Co

released its results for the fourth-quarter on Thursday. Heinz reported its fourth-quarter profit at $223.9 million, or $0.70 per share, up from $192.4 million, or $0.61 per share, in the year-earlier period. Its income from continuing operations climbed to $0.69 per share from $0.60 per share. Breaking out closing costs of $0.02 per share, the company's income from continuing operations came in at $0.71 per share. Its sales rose 6% to $2.89 billion. However, analysts were expecting earnings of $0.72 per share on revenue of $2.87 billion. Heinz projects 2012 earnings of $3.29 to $3.39 per share, excluding items, versus analysts' estimates of $3.33 per share. Heinz also raised its annualized common stock dividend by 6.7% to $1.92 per share. Heinz shares gained 1.20% to $54.03 in after-hours trading. Read more