The Board of Directors of Hormel Foods Corporation, a multinational marketer of consumer-branded food and meat products, announced a 17 percent increase to the annual dividend to shareholders, marking the 51st consecutive annual dividend increase. The annual dividend on the common stock of the corporation was raised to $0.68 per share from $0.58 per share.
The Board of Directors authorized the first quarterly dividend of seventeen cents (17¢) a share to be paid on Feb. 15, 2017, to stockholders of record at the close of business on Jan. 17, 2017.
The Feb. 15 payment will be the 354th 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.
Hormel Foods Corporation, based in Austin, Minn., is a global branded food company with over $9 billion in annual revenues across 75 countries worldwide. Its brands include SKIPPY®, SPAM®, Hormel® Natural Choice®, Applegate®, Justin’s®, Wholly Guacamole®, Hormel® Black Label® and more than 30 other beloved brands.