(Reuters) - Conagra Brands Inc CAG.N on Thursday reported better-than-expected profit and sales, as coronavirus-induced at-home eating trends boosted demand for its frozen vegetables and ready-to-eat meals.
Organic net sales, which exclude impacts from mergers & acquisitions and currency fluctuations, rose 15% in the first quarter, much higher than the 10%-13% range it had previously anticipated.
The maker of Chef Boyardee pastas and Slim Jim beef jerky also raised its quarterly cash dividend by 29% and issued a forecast for second quarter organic growth in the range of 6%-8%.
Reporting by Siddharth Cavale in Bengaluru; Editing by Shailesh Kuber
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