Hormel Foods Corporation Announces 58th Consecutive Increase to the Annual Dividend

AUSTIN, Minn., Nov. 20, 2023 /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 58th consecutive annual dividend increase.

The annual dividend on the common stock of the Corporation was raised to $1.13 per share from $1.10 per share.

The Board of Directors authorized the first quarterly dividend of 28.25 cents ($0.2825) a share to be paid on Feb. 15, 2024, to stockholders of record at the close of business on Jan. 16, 2024.

The Feb. 15 payment will be the 382nd 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 $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 on the "Global 2000 World's Best Employers" list by Forbes magazine for three years, is one of Fortune magazine's most admired companies, has appeared on the "100 Best Corporate Citizens" list by 3BL Media 13 times, 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 www.hormelfoods.com.

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SOURCE Hormel Foods Corporation