Hormel Foods raises dividend for 52nd consecutive year

Peanut butter and meat products maker Hormel Foods will raise its quarterly dividend to $0.1875 per share.

This marks the 52nd consecutive year of dividend increases for Dividend Aristocrat Hormel Foods.

Dividend Aristocrat Hormel Foods (HRL) will raise its quarterly dividend by 10.3 percent to $0.1875 per share in Q1 of 2018. The new dividend yield for HRL is 2.2%.

"This morning we announced a 10 percent increase to our annual dividend, making the new dividend $0.75 per share," Snee said. "This is the 52nd consecutive year in which we've increased our dividend."

Last year Hormel raised its dividend for the 51st consecutive year.

Hormel Foods Corporation is engaged in the production of a range of meat and food products including the sale of branded and unbranded pork, beef, chicken and turkey products for retail, foodservice and fresh product customers. Also Hormel own brands such as Skippy peanut butter.