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Hormel Foods Announces Stockholder Approval of Two-For-One Stock Split

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January 27, 2016

Austin, Minn.

Hormel Foods Corporation (NYSE: HRL) today announced stockholder approval of a two-for-one stock split at the company’s Annual Meeting of Stockholders on Tuesday, Jan. 26, 2016.

This is the 10th stock split in the company’s history.

The stock split, first approved by the company’s Board of Directors on Nov. 23, 2015, is implemented by splitting the par value of the company’s common stock from $.0293 to $.01465 per share and increasing the number of authorized shares from 800 million to 1.6 billion.

Stockholders of record at the close of business on Jan. 26, 2016, will receive one additional share of common stock for each share owned on that date. Under the rules of the New York Stock Exchange (NYSE), where the company’s common stock is traded between Jan. 26 and the distribution of the new shares planned by Feb. 9, 2016, the selling stockholder is responsible for delivering the new shares received to the buyer.

The annual dividend rate, when adjusted for the two-for-one split, will be $.58 per share.

About Hormel Foods

Hormel Foods Corporation, based in Austin, Minnesota, 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 2015, 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 seventh year in a row. Hormel Foods was also recognized as a 2015 Military Friendly Employer by G.I. Jobs magazine, on the 2015 Best for Vets Employers List by Military Times, and was 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 https://www.hormelfoods.com.