H.J. Heinz Co posted higher quarterly profit as increased spending on price promotions helped boost sales, but it also said earnings for the current fiscal year would be hit by currency fluctuations.
The company also raised its dividend to $1.80 for fiscal year 2011 from $1.68 a year earlier.
Toward the end of 2009, Heinz raised its promotional spending with retailers as it grappled with rivals promoting goods at lower prices and with cautious consumers shifting to private-label foods to save money.
The company's profit in the fourth quarter ended April 28 was $192.4 million, or 60 cents a share, compared with $$175.1 million, or 55 cents, a year earlier.
Analysts on average forecast 59 cents, according to Thomson Reuters I/B/E/S.
Heinz expects 2011 earnings to be up 7 percent to 10 percent.
(Reporting by Brad Dorfman; Editing by Derek Caney)