On November 20th, Hormel Foods announced a dividend increase of 10%. This will increase their dividend from $0.17 to $0.1875. It is payable on February 15th for shareholders of record on January 16th.
Just like my last dividend increase post, this one will also feature a dividend king. This will mark the 52nd consecutive annual dividend increase. Hopefully they will be able to continue this streak for many more years to come.
Hormel is a very strong company that has many different recognizable brands. Some of those brands include: SKIPPY, SPAM, Hormel, Natural Choice, Applegate and over 30 other brands. Despite the company’s stock being beaten down lately in the market, they continue to acquire good companies which will allow them alot more growth.
A small dividend increase will not affect my income a whole lot since I don’t have a big position in the company. With this increase it will add an additional $0.14 to my quarterly dividend and will add $.56 to my projected annual dividend income.
At this level, I could easily see adding to this position. Only time will tell if I decide to add to this position but I love seeing the company continue to return capital to its shareholders.
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!
Be sure and follow me on your favorite social media platform:
MoreDividendsdotcom on Facebook
@MoreDividends on Twitter