AUSTIN, Minn.--(BUSINESS WIRE)--The Board of Directors of Hormel Foods Corporation (NYSE: HRL), a multinational marketer of consumer-branded food and meat products, today 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.
About Hormel Foods – Inspired People. Inspired Food.™
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. The company is a member of the S&P 500 Index and the S&P 500 Dividend Aristocrats, was named one of “The 100 Best Corporate Citizens” by Corporate Responsibility Magazine for the eighth year in a row, and has received numerous other awards and accolades for its corporate responsibility and community service efforts. In 2016, the company celebrated its 125th anniversary and announced its new vision for the future - Inspired People. Inspired Food.™ - focusing on its legacy of innovation. For more information, visit www.hormelfoods.com and http://2015csr.hormelfoods.com/.