HNZ 4-1-3 70-85 A+ attractive for income, company
poised for the long haul. (3.8%) 10-15% dividend
increased every year since 2003, reduced each of
the two years before that.
Mein Pope,
HOW many times must I remind you?
Back around 2003 . . .
What looks like a 'dividend cut' was, in reality,
a stock swap.
On the day everything happened . . . .'They' traded
some of my HNZ stock for some Del Monte stock. When
the day was over I had the same number of shares
of HNZ - only worth less per share. A smaller
dividend check . . and shares of Del Monte.
Had I immediately sold the Del Monte and plowed the
money back into Heinz I'd have had the same size
dividend check.
(Back then Del Monte did not pay a dividend.)
I just got curious . . and looked up Del Monte . .
(Which I sold out of at a small profit one year
after the carnage.)
On March 8, 2011, Del Monte Foods announced the completion of the acquisition of the Company by an investor group led by funds affiliated with Kohlberg Kravis Roberts & Co. L.P., Vestar Capital Partners and Centerview Partners. Under the terms of the agreement, Del Monte shareholders are entitled to receive $19.00 in cash for each share of Del Monte common stock held. Trading in the Del Monte stock on the New York Stock Exchange was suspended prior to the opening of trading on March 9, 2011.
>>
Their ticker, DLM, comes back 'no such animal'.
Zim.
Mad Poet Strikes Again.
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