Conagra profit beats on higher ready meal, frozen vegetables demand

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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%.