Hormel Foods Corporation Announces 56th Consecutive Increase to Annual Dividend

Rhea-AI Summary

The Board of Directors at Hormel Foods Corporation (NYSE: HRL) has announced a 6% increase in the annual dividend, raising it from $0.98 to $1.04 per share. This marks the 56th consecutive annual dividend increase. The first quarterly dividend of $0.26 per share will be paid on February 15, 2022, to shareholders on record by January 18, 2022. Hormel has consistently paid quarterly dividends since going public in 1928, demonstrating a solid commitment to shareholder returns.

Positive

• Dividend increased by 6% to $1.04 per share, reflecting company confidence.
• First quarterly dividend payment of $0.26 scheduled for February 15, 2022.
• 56 consecutive years of annual dividend increases, indicating financial stability.

Negative

• None.

AUSTIN, Minn., Nov. 22, 2021 /PRNewswire/ -- The Board of Directors of Hormel Foods Corporation (NYSE: HRL), a global branded food company, today announced a 6 percent increase to the annual dividend to shareholders, marking the 56th consecutive annual dividend increase.

The annual dividend on the common stock of the corporation was raised to $1.04 per share from $0.98 per share.

The Board of Directors authorized the first quarterly dividend of 26.00 cents ($0.2600) a share to be paid on Feb. 15, 2022, to stockholders of record at the close of business on Jan. 18, 2022.

The Feb. 15 payment will be the 374th consecutive quarterly dividend paid by the company. Since becoming a public company in 1928, Hormel Foods Corporation has paid a regular quarterly dividend without interruption.

About Hormel Foods – Inspired People. Inspired Food.™
Hormel Foods Corporation, based in Austin, Minn., is a global branded food company with over $10 billion in annual revenue across 80 countries worldwide. Its brands include Planters^®, SKIPPY^®, SPAM^®, Hormel^® Natural Choice^®, Applegate^®, Justin's^®, Wholly^®, Hormel^® Black Label^®, Columbus^® and more than 30 other beloved brands. The company is a member of the S&P 500 Index and the S&P 500 Dividend Aristocrats, was named on the "Global 2000 World's Best Employers" list by Forbes magazine for three years, is one of Fortune magazine's most admired companies, has appeared on Corporate Responsibility Magazine's "The 100 Best Corporate Citizens" list for 12 years, and has received numerous other awards and accolades for its corporate responsibility and community service efforts. The company lives by its purpose statement — Inspired People. Inspired Food.™ — to bring some of the world's most trusted and iconic brands to tables across the globe. For more information, visit www.hormelfoods.com.

Investor Relations	Media Relations
(507) 437-5248	(507) 434-6352
ir@hormel.com	media@hormel.com

 

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SOURCE Hormel Foods Corporation

FAQ

What is the new dividend amount for Hormel Foods (HRL)?

The new annual dividend for Hormel Foods is $1.04 per share.

When will the dividend be paid to shareholders of Hormel Foods (HRL)?

The first quarterly dividend payment will be made on February 15, 2022.

What is the significance of Hormel Foods' 56th annual dividend increase?

It signifies Hormel's long-standing commitment to rewarding shareholders with consistent dividend growth.

How much is the quarterly dividend for Hormel Foods (HRL)?

The quarterly dividend is $0.26 per share.