The Board of Directors of Hormel Foods Corporation (NYSE: HRL), a multinational marketer of consumer-branded food and meat products, has 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.
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.