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Del Monte Foods Co. (NYSE:DLM) reported its full year and Q4 2010 results before the opening bell Thursday morning, showing a 3.1% boost in full year net sales, as well as a 60.8% increase in diluted EPS from continuing operations, which jumped from $0.74 during fiscal 2009 to $1.19 this year. Q4 net sales fell 9.8% and diluted EPS from continuing operations dropped 11.4%, from $0.35 in Q4 2009 to $0.31. The company's 2011 fiscal earnings and cash flow guidance includes a 3-4% growth in net sales over fiscal year 2010 sales of $3,739.8 million; EPS from continuing operations is set in the range of $1.38-$1.42, and cash from operations is expected to range between $260-$270 million. Del Monte Foods also announced that the company's board has approved an 80% hike in quarterly dividend of $0.09 per share, as well as a three-year, $350 million share buy-back reauthorization. "Del Monte delivered record fiscal 2010 results, establishing a higher level of earnings and setting the new base for sustained growth and performance in fiscal 2011 and beyond," said chairman and CEO Richard G. Wolford. "These exceptional results, including EPS growth of over 60% and operating margins expanding by over 350 basis points, were achieved while significantly increasing our marketing investment by over 50%. These results are a testament to the changes we have made and the actions we have taken over the past several years, as well as the successful execution of our growth strategy. Our confidence in our future is reflected by the fact that we are announcing today a $350 million, 3-year share repurchase authorization and an 80% increase in our dividend. As we exit the fourth quarter fiscal 2010, and enter fiscal 2011, we feel very good about the health of our business and our long range guidance as we build future performance from this new higher base. For fiscal 2011, we will continue to invest behind our brands and key growth engines, while executing additional productivity initiatives. We are confident in our ability to drive long-term sustainable EPS growth." Shares of Del Monte closed Wednesday at $14.67.