The Board of Directors of Hormel Foods Corporation (NYSE: HRL), a multinational marketer of consumer-branded food and meat products, today announced its 48th consecutive annual dividend increase.
The annual dividend on the common stock of the corporation was raised to $.80 per share from $.68 per share.
A quarterly dividend on the common stock was also authorized by the Board of Directors at twenty cents (20¢) a share. The quarterly dividend will be paid Feb. 14, 2014, to stockholders of record at the close of business on Jan. 22, 2014.
The Feb. 14 payment will be the 342nd 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
Hormel Foods Corporation, based in
Austin, Minn., is a multinational manufacturer and marketer of
consumer-branded food and meat products, many of which are among the
best known and trusted in the food industry. The company leverages its
extensive expertise, innovation and high competencies in pork and turkey
processing and marketing to bring branded, value-added products to the
global marketplace. The company is a member of the Standard & Poor's
(S&P) 500 Index, S&P Dividend Aristocrats for 2013, Maplecroft Climate
Innovation Indexes, Global 1000 Sustainable Performance Leaders and was
again named one of “The 100 Best Corporate Citizens” by Corporate
Responsibility Magazine for the fifth year in a row. Hormel Foods has
been recognized on the G.I. Jobs magazine list of America’s Top 100
Military Friendly Employers in 2012 and 2013. The company enjoys a
strong reputation among consumers, retail grocers, foodservice and
industrial customers for products highly regarded for quality, taste,
nutrition, convenience and value. For more information, visit http://www.hormelfoods.com.
Contacts:
Julie H. Craven, 507-437-5345
media@hormel.com