Hormel Foods Increases Annual Dividend
AUSTIN, Minn. | November 24, 2009
The Board of Directors of Hormel Foods Corporation (NYSE: HRL), a multinational marketer of consumer-branded food and meat products, today announced its 44th consecutive annual dividend increase.
The annual dividend on the common stock of the corporation was raised to $.84 per share from $.76 per share.
A quarterly dividend on the common stock was also authorized by the Board of Directors at 21 cents (21¢) a share. The quarterly dividend will be paid Feb. 15, 2010, to stockholders of record at the close of business on Jan. 23, 2010.
The Feb. 15 payment will be the 326th 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 quality, value-added brands to the global marketplace. The company is a member of the Standard & Poor's 500 Index, and in each of the past 10 years, Hormel Foods was named one of “The 400 Best Big Companies in America” by Forbes 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