SAN FRANCISCO, Dec 17, 2010 (BUSINESS WIRE) -- Del Monte Foods Company (NYSE: DLM) today announced that its Board of Directors has declared a cash dividend on its common stock of $0.09 per share. The dividend is payable on February 3, 2011 to stockholders of record as of the close of business on January 20, 2011.

About Del Monte Foods

Del Monte Foods is one of the country's largest and most well-known producers, distributors and marketers of premium quality, branded pet products and food products for the U.S. retail market, generating approximately $3.7 billion in net sales in fiscal 2010. With a powerful portfolio of brands, Del Monte products are found in eight out of ten U.S. households. Pet food and pet snacks brands include Meow Mix^(R), Kibbles 'n Bits^(R) , Milk-Bone^(R), 9Lives^(R), Pup-Peroni^(R), Gravy Train^(R) , Nature's Recipe^(R), Canine Carry-Outs^(R) and other brand names. Food product brands include Del Monte^(R), Contadina^(R), S&W^(R), College Inn^(R)and other brand names. The Company also produces and distributes private label pet products and food products. For more information on Del Monte Foods Company (NYSE: DLM) visit the Company's website at www.delmonte.com.

Del Monte. Nourishing Families. Enriching Lives. Every Day.(TM)

There can be no assurance that dividends will be declared or paid in the future.The actual declaration and payment of future dividends and the establishment of record and payment dates, if any, are subject to the determination by the Company's Board of Directors each quarter after its review of the Company's then-current strategy, applicable debt covenants and financial performance and position, among other things.The Company's declaration and payment of future dividends is subject to risks and uncertainties, including:deterioration of the Company' financial performance or position; inability to declare a dividend in compliance with applicable laws or debt covenants; an increase in the Company's cash needs or decrease in available cash; and the business judgment of the Board of Directors that a declaration of a dividend is not in Del Monte Foods Company's best interests, as well as other risks that may be detailed, from time to time, in the Company's filings with the Securities and Exchange Commission. The agreement relating to the potential transaction with a consortium of private equity funds affiliated with Kohlberg Kravis Roberts & Co. L.P., Vestar Capital Partners, and Centerview Partners announced on November 25, 2010 also contains restrictions regarding the payment of dividends (other than ordinary quarterly cash dividends in an amount not to exceed $0.09 per share with record dates consistent with the record dates for comparable quarterly periods of 2010). Factors that could affect the Company's financial performance or position, compliance with applicable debt covenants, or cash flow include those risks and uncertainties detailed, from time to time, in Del Monte Foods Company's filings with the Securities and Exchange Commission, including its annual report on Form 10-K and quarterly reports on Form 10-Q.

SOURCE: Del Monte Foods

Media:
Sard Verbinnen
Brandy Bergman or Robin Weinberg, 212-687-8080
or
Analysts/Investors:
Del Monte Foods
Jennifer Garrison, 415-247-3382
investor.relations@delmonte.com