Kraft Heinz's Stock Plummets 20% After Company Slashes Dividend, Discloses SEC Probe

Fortune ^ | February 21, 2019 | Kevin Kelleher

[Verginius Rufus]

SEC? Heinz ketchup won’t be available at Southeastern Conference games?

[camle]

oh no! how is Teresa gfonna afford her grapes now?

[deport]

So far as I know most of their ketchup is still made in Fremont, Ohio.

*************

More so after they closed their Canadian facility.

On November 14, 2013, Heinz announced that the Leamington facility, the
second-largest in the company, would close sometime in May 2014. Ketchup
processing operations were to be consolidated at the company’s US locations.

[Fido969]

Huh! There was a different Kraft whose Oscar Mayer was falling, as well, today.

[buckalfa]

""That net loss was largely caused by an impairment charge of $15.4 billion to adjust the goodwill in some of its businesses, including the Kraft and Oscar Mayer trademarks.”"

Ah, the old goodwill entry on the balance sheet. The ultimate fudge factor to enhance the owner's equity part of the A= L+OE formula. It also hides the fact they over paid for an asset.

[aimhigh]

My last bottle of Heinz ketchup was more watery than normal.

[SunkenCiv]

...cut its quarterly dividend to 40 cents a share from 62.5 cents...

[eyeamok]

Why haven’t we Banned Ketchup from ALL Public Schools like we did with Soda?? it has an unbelievable amount of sugar in it.

[Teacher317]

And how is Gillette doing?

[Aevery_Freeman]

Perfect climate (both meteorological and political) for growing tomatoes - lots of cheap labor, too.