Consumers dividend

Consumers dividend


Consumers Bancorp, the holding company for Consumers National Bank, has declared a quarterly cash dividend on shares of the company’s common stock in the amount of 12 cents per share.

The dividend is payable Dec. 13 to stockholders of record at the close of business Nov. 25.

Heinz to close 3 plants, cut 1,350 jobs

H.J. Heinz Co. is closing three plants in North America and cutting 1,350 jobs in an effort to operate more efficiently.

The food maker said Thursday that it will close facilities in two states and Canada over the next six to eight months. The cuts total 200 jobs in Florence, S.C., 410 jobs in Pocatello, Idaho, and 740 employees in Leamington, Ontario, in Canada.

Heinz will shift production from these locations to other existing facilities in the U.S. and Canada.

The company also said it will invest in remaining facilities and add 470 positions at five factories in Ohio, Iowa, California and Canada.

McDonald’s eyes bigger share of coffee market


McDonald’s wants to be a bigger player in the global coffee business.

The world’s biggest hamburger chain on Thursday highlighted beverages as one of its key growth opportunities at a daylong presentation for investors.

McDonald’s CEO Don Thompson noted that coffee is one of the fastest-growing categories in its global drinks business and said that the company has less than its “fair share” of the market.

The push comes as Starbucks Corp. is enjoying strong sales growth even in the choppy economy. In the latest quarter, the Seattle-based chain said global sales rose 7 percent at locations open at least a year. At McDonald’s, the figure edged up 0.9 percent.

As for the coffee servings sold in the U.S. restaurant industry, McDonald’s currently has less than 13 percent of the market, said Kevin Newell, the company’s chief brand and strategy officer for the region. Still, he noted McDonald’s coffee sales have surged 70 percent since the introduction of McCafe specialty coffees in 2009.

EU welcomes end of bailout for 2 nations


European Union officials welcomed the end of bailout support for Spain and Ireland, saying that showed the effectiveness of more than four years of efforts to cut excessive government debt.

Jeroen Dijsselbloem, the Dutchman who chairs the group of European finance ministers from the 17 countries using the euro, said Thursday “these economies are back on the road to recovery.”

Both Spain and Ireland said they would not seek further aid. Ireland’s aid program ends Dec. 15, Spain’s in January.

Greece, Portugal and Cyprus remain on international bailout support as a result of Europe’s troubles with too much debt.

European officials stressed they still face many economic challenges.

Vindicator staff/wire reports

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