Hormel Foods Corporation Announces 59th Consecutive Increase to the Annual Dividend

Rhea-AI Summary

Hormel Foods (NYSE: HRL) announced a 3% increase in its annual dividend, raising it from $1.13 to $1.16 per share. This marks the company's 59th consecutive annual dividend increase. The first quarterly dividend of $0.29 per share will be paid on February 18, 2025, to stockholders of record as of January 13, 2025. This represents the 386th consecutive quarterly dividend since becoming public in 1928. Hormel Foods, with approximately $12 billion in annual revenue across 80+ countries, continues its uninterrupted dividend payment history.

Positive

• 59 years of consecutive dividend increases demonstrates strong financial stability
• 3% dividend increase to $1.16 per share annually
• $12 billion in annual revenue across 80+ countries
• 386 consecutive quarterly dividends paid since 1928

Negative

• Modest 3% dividend growth rate may not exceed inflation

AUSTIN, Minn., Nov. 25, 2024 /PRNewswire/ -- The Board of Directors of Hormel Foods Corporation (NYSE: HRL), a Fortune 500 global branded food company, today announced a 3 percent increase to the annual dividend to shareholders, marking the 59^th consecutive annual dividend increase.

The annual dividend on the common stock of the Corporation was raised to $1.16 per share from $1.13 per share.

The Board of Directors authorized the first quarterly dividend of 29.00 cents ($0.2900) a share to be paid on February 18, 2025, to stockholders of record at the close of business on January 13, 2025.

The February 18, 2025 payment will be the 386^th 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, Minnesota, is a global branded food company with approximately $12 billion in annual revenue across more than 80 countries worldwide. Its brands include Planters®, Skippy®, SPAM®, Hormel® Natural Choice®, Applegate®, Justin's®, Wholly®, Hormel® Black Label®, Columbus®, Jennie-O® 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 best companies to work for by U.S. News & World Report, one of America's most responsible companies by Newsweek, recognized by TIME magazine as one of the World's Best Companies, received a perfect score of 100 on the 2023–24 Corporate Equality Index and has received numerous other awards and accolades for its corporate responsibility and community service efforts. The company lives by its purpose statement — Inspired People. Inspired Food.™ — to bring some of the world's most trusted and iconic brands to tables across the globe. For more information, visit hormelfoods.com.

Investor Relations		Media Relations
ir@hormel.com		media@hormel.com

 

View original content to download multimedia:https://www.prnewswire.com/news-releases/hormel-foods-corporation-announces-59th-consecutive-increase-to-the-annual-dividend-302315944.html

SOURCE Hormel Foods Corporation

FAQ

What is Hormel Foods' (HRL) new annual dividend amount for 2025?

Hormel Foods' new annual dividend is $1.16 per share, increased from $1.13 per share.

When will Hormel Foods (HRL) pay its next quarterly dividend?

Hormel Foods will pay its next quarterly dividend of $0.29 per share on February 18, 2025.

What is the record date for Hormel Foods' (HRL) February 2025 dividend?

The record date for Hormel Foods' February 2025 dividend is January 13, 2025.

How many consecutive years has Hormel Foods (HRL) increased its dividend?

Hormel Foods has increased its dividend for 59 consecutive years.