PR Newswire | Nov 23, 2020 05:00PM EST

11/23 16:00 CST

Hormel Foods Announces 55th Consecutive Increase to Annual Dividend AUSTIN, Minn., Nov. 23, 2020

AUSTIN, Minn., Nov. 23, 2020 /PRNewswire/ -- The Board of Directors of Hormel Foods Corporation (NYSE: HRL), a global branded food company, today announced a 5 percent increase to the annual dividend to shareholders, marking the 55th consecutive annual dividend increase.

The annual dividend on the common stock of the corporation was raised to $0.98 per share from $0.93 per share.

The Board of Directors authorized the first quarterly dividend of 24.50 cents ($0.2450) a share to be paid on Feb. 16, 2021, to stockholders of record at the close of business on Jan. 11, 2021.

The Feb. 16 payment will be the 370th 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. (tm)Hormel Foods Corporation, based in Austin, Minn., is a global branded food company with over $9 billion in annual revenue across more than 80 countries worldwide. Its brands include SKIPPY(r), SPAM(r), Hormel(r) Natural Choice(r), Applegate(r), Justin's(r), Wholly(r), Hormel(r) Black Label(r), Columbus(r) 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 straight years, is one of Fortune magazine's most admired companies, has appeared on Corporate Responsibility Magazine's "The 100 Best Corporate Citizens" list for 12 years in a row, 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.(tm) - to bring some of the world's most trusted and iconic brands to tables across the globe. For more information, visit www.hormelfoods.com

Media Contact: Rick Williamson

507-434-6352

media@hormel.com



Investor Contact: Nathan Annis

507-437-5248

ir@hormel.com

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SOURCE Hormel Foods Corporation