AUSTIN, Minn.--(BUSINESS WIRE)--During its annual shareholder meeting in Austin, Minn., Hormel Foods Corporation (NYSE: HRL), a multinational marketer of consumer-branded food and meat products, celebrated a record fiscal year 2014, and highlighted the company’s foodservice business under its Refrigerated Foods segment.
Jeffrey M. Ettinger, chairman of the board, president and chief executive officer at Hormel Foods, spoke about the company’s continued growth and success from the year. “I am pleased to share the fantastic results of our company during this past year,” Ettinger said. “We achieved record dollar sales and record earnings per share in fiscal 2014. Additionally, we raised our annual dividend by 25 percent to $1 per share for fiscal 2015, marking the 49th consecutive year we have increased our dividend.”
“During fiscal 2014 we acquired CytoSport Holdings, makers of Muscle Milk® products, as a growth catalyst for our Specialty Foods segment. We also introduced innovative, new products such as SKIPPY® singles and Hormel® REV® AM breakfast wraps to capitalize on the growing on-the-go meal opportunity.”
Deanna T. Brady, group vice president, foodservice, delivered the meeting’s featured presentation. She discussed how the foodservice group has focused on colleges and universities, the healthcare segment and product innovation to drive growth for the Refrigerated Foods segment of Hormel Foods.
In her comments, Brady said, “Our ability to identify new customers and deliver on-trend menu solutions through a talented and unique sales team has allowed us to exceed industry growth rates.”
A video of the meeting can be viewed at hormelfoods.com under the Press Releases section at http://www.hormelfoods.com/Newsroom/Press-Releases/Press-Releases.
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 500 Dividend Aristocrats for 2014, was named the
2013 Sustainable Supply Chain of the Year by Refrigerated & Frozen Foods
magazine, and was again named one of “The 100 Best Corporate Citizens”
by Corporate Responsibility Magazine for the sixth year in a row. Hormel
Foods was also recognized as a 2015 Military Friendly Employer by G.I.
Jobs magazine, and named one of the 2015 40 Best Companies for Leaders
by Chief Executive magazine. 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.
Forward-Looking Statements
This news release contains
forward-looking information based on management’s current views and
assumptions. Actual events may differ materially. Please refer to the
cautionary statement regarding Forward-Looking Statements and Risk
Factors that appear on pages 26-30 in the company’s Annual Report for
the fiscal year ended October 26, 2014, which can be accessed at www.hormelfoods.com
under “Investors-SEC Filings.”