Hormel Foods Corporation Announces 58th Consecutive Increase to the Annual Dividend

Rhea-AI Summary

Hormel Foods Corporation (HRL) has announced a 3 percent increase in the annual dividend to shareholders, marking the 58th consecutive annual dividend increase. The annual dividend on the common stock was raised to $1.13 per share from $1.10 per share. The first quarterly dividend of 28.25 cents ($0.2825) a share was authorized to be paid on Feb. 15, 2024, to stockholders of record at the close of business on Jan. 16, 2024. This payment will be the 382nd consecutive quarterly dividend paid by the Company since becoming a public company in 1928.

Positive

• The 3 percent increase in the annual dividend demonstrates a commitment to delivering value to shareholders.
• The 58th consecutive annual dividend increase reflects the company's consistent financial performance.
• The 382nd consecutive quarterly dividend payment showcases the company's long-standing history of rewarding shareholders.

Negative

• None.

AUSTIN, Minn., Nov. 20, 2023 /PRNewswire/ -- The Board of Directors of Hormel Foods Corporation (NYSE: HRL), a Fortune 500 global branded food company, today announced a 3 percent increase to the annual dividend to shareholders, marking the 58th consecutive annual dividend increase.

The annual dividend on the common stock of the Corporation was raised to $1.13 per share from $1.10 per share.

The Board of Directors authorized the first quarterly dividend of 28.25 cents ($0.2825) a share to be paid on Feb. 15, 2024, to stockholders of record at the close of business on Jan. 16, 2024.

The Feb. 15 payment will be the 382nd 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 $12 billion in annual revenue across more than 80 countries worldwide. Its brands include Planters^®, Skippy^®, SPAM^®, Hormel^® Natural Choice^®, Applegate^®, Justin's^®, Wholly^®, Hormel^® Black Label^®, Columbus^®, Jennie-O^® 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 the "100 Best Corporate Citizens" list by 3BL Media 13 times, 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 Relation
ir@hormel.com	media@hormel.com

 

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SOURCE Hormel Foods Corporation

FAQ

What is the annual dividend increase announced by Hormel Foods Corporation (HRL)?

Hormel Foods Corporation (HRL) announced a 3 percent increase in the annual dividend to shareholders, raising it to $1.13 per share from $1.10 per share.

When will the first quarterly dividend be paid by Hormel Foods Corporation (HRL)?

The first quarterly dividend of 28.25 cents ($0.2825) a share was authorized to be paid on Feb. 15, 2024, to stockholders of record at the close of business on Jan. 16, 2024.

How many consecutive quarterly dividends has Hormel Foods Corporation (HRL) paid?

Hormel Foods Corporation (HRL) has paid 382 consecutive quarterly dividends since becoming a public company in 1928.