date:Mar 13, 2013
uidity constraints. Berkshire's 50% common equity stake supports this view.
Solid FCF generation will be enabled by EBITDA growth and the potential for additional working capital improvement. The $720 preferred dividend is a moderately incremental replacement to the $650 million of common dividends distributed by Heinz prior to the buyout. Capital expenditures should also decline modestly as spending behind Heinz's Project Keystone, a multi-year program to drive productivity and standardize sy