12% Dividend Increase from Hormel Foods ( HRL )
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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Congrats on the raise, even on a small position a double digit raise sure does bring a smile to your face.
This is a position I wish I bought years ago. That dividend streak is absolutely amazing and to top it off their dividend increases have consecutively beat the rate of inflation for 32 straight years (soon to be 33 come Jan) and it started when I was a senior in High School. If only I knew….
Ken K recently posted…Weekly Portfolio Summary
That’s a great raise on the dividend and slightly surprising to me, considering HRL was not even in my mid-term radar all this year. Looks like I need to reallocate my stocks and put more on food-based comps.
Anyways, congratulations and good luck to you, mate.