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May 23, 2006

US: Heinz to unveil plan to increase shareholder returns

In the hope of placating activist shareholders, US food group Heinz is planning to unveil details of its business plan for the coming two years at the beginning June.

In the hope of placating activist shareholders, US food group Heinz is planning to unveil details of its business plan for the coming two years at the beginning June.
 
The company said that as part of its ongoing strategy to optimise its portfolio and drive sales and earnings growth, it will publish its plan for Superior Shareholder Value and Growth for Fiscal Years 2007-2008 on 1 June in New York.

Heinz said the business plan would provide details of innovation and advertising for its top brands as well as savings in supply chain and trade spending that “are expected to generate the fuel for strong sales and profit performance and superior shareholder value over the next two years”. In addition, the company said it would outline its dividend and share repurchase strategy.

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