Hormel Foods Increases Quarterly Dividend by 0.9% to $0.2925

Hormel Foods has announced a quarterly dividend increase of 0.9%, raising the payout to $0.2925 per share from the previous $0.2900. This change reflects the company’s commitment to returning value to its shareholders, and the new dividend will yield approximately 5.18% annually.

The dividend is payable on February 17, 2024, to shareholders of record as of January 12, 2024. Investors should note that the stock will go ex-dividend on the same date, January 12, meaning that purchases made on that day or later will not be eligible for the upcoming dividend payment.

Hormel Foods has a long history of dividend payments, and this increase marks another step in its ongoing strategy to reward investors. The consistent rise in dividends is indicative of the company’s stable financial performance and its positive outlook for future earnings.

With this increase, Hormel continues to strengthen its position in the food industry, reassuring investors of its commitment to providing returns through sustainable growth and profitability.