Key Developments For General Mills, Inc.
General Mills, Inc. (GIS.N) (New York Stock Exchange)
Nestle SA and General Mills Inc.'s Joint Venture Announces Creation of New Innovation Centre in Switzerland
Nestle SA announced that Cereal Partners Worldwide (CPW S.A.), a joint venture between Nestle SA and General Mills Inc., announced on October 2, 2009, the creation of a new Innovation Center in Orbe (Switzerland). The investment of close to CHF 50 million underlines Cereal Partners Worldwide's strategic focus on nutrition, health and wellness. The construction, which started in early 2009, is nearing the half way stage and is due to be completed by the middle of 2010.
PEPFAR, USAID And General Mills, Inc. Partner To Improve Food Processing In Africa
General Mills, Inc. announced that on September 25, 2009, Secretary of State Hillary Rodham Clinton announced a public private partnership with General Mills, the U.S. Agency for International Development (USAID) and the U.S. President`s Emergency Plan for AIDS Relief (PEPFAR) that will improve the capacity of small and medium-sized food businesses across sub-Saharan Africa to produce healthy, fortified food products. The partnership will link the technical and business expertise of General Mills and up to nine additional food companies with up to 200 small and medium-sized mills and food processors in 15 sub-Saharan African countries. The partnership aims to improve the ability of these small and medium-sized enterprises to produce high-quality, nutritious and safe food at affordable prices. The partnership, which could potentially reach a value of $21 million, will also benefit an estimated 1.6 million smallholder farmers who supply these businesses.
General Mills, Inc. Raises FY 2010 EPS Outlook
General Mills, Inc. raised its fiscal 2010 outlook and expects earnings per share (EPS) to a range of $4.40-$4.45 excluding any impact from mark-to-market effects. Previously, the Company's fiscal 2010 EPS outlook had been a range of $4.20-$4.25 excluding any mark-to-market impact. According to Reuters Estimates, analysts were expecting the Company to report EPS of $4.27 for the same period.
General Mills, Inc. Declares Quarterly Dividend
General Mills, Inc. announced that the Board of Directors has declared a quarterly dividend at the prevailing rate of $0.47 per share, payable November 2, 2009, to shareholders of record October 12, 2009.
General Mills, Inc. Sees Q1 2010 EPS Above Internal Target
General Mills, Inc. announced that its current estimate of first quarter 2010 earnings per share (EPS) exceeds internal plan targets. According to Reuters Estimates, analysts on an average were expecting the Company to report EPS of $1.02 for the same period.
