Dividend Increase Announcement
On November 19th, Hormel Foods announced a dividend increase of 12%. This will increase their dividend per quarter from $0.1875 to $0.21. It is payable on February 15th for shareholders of record on January 14th. The new quarterly dividend represents an annualized dividend amount of $0.84 per share as compared to the current annualized dividend amount of $0.75 per share.
Hormel Foods Dividend Information
Annual Dividend: $0.84
Dividend Yield: 1.85%
Dividend Growth History: 51 years
Payout Ratio: 48%
Dividend Increase Effect On More Dividends
I am currently holding 12 shares of Hormel Foods. With this 12% increase it will add $1.08 to my Projected Annual Dividend Income.
This is not a very big position in Hormel Foods but I love seeing a 12% dividend increase. Despite the challenges that they face, I would love to be able to add to this position but the share price would have to make a large decline before that happens.
Regardless of how large or small, I love all dividend increases. That is how we end up with More Dividends 😉
Do you currently hold any stock in Hormel Foods? What do you think of this dividend increase? Just let me know in the comments.
As always I look forward to reading all of your comments and questions, until then….. happy investing!
-Jason from MoreDividends.com
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