Hormel Foods shareholders get a 6% dividend hike in 2021

Hormel Foods is a Dividend Aristocrat

Dividend Aristocrat Hormel Foods (symbol: HRL) will raise its dividend for the 56th year in a row. Shareholders of the food company will be rewarded with a dividend hike of 6 percent in 2021.

The next Hormel Foods quarterly dividend of $0.26 be paid on February 15, 2022, to stockholders of record at the close of business on January 18, 2022. A new annual dividend rate of $1.04 per share will yield 2.4% at a stock price of $43.

The next HRL dividend payment will be the 374th 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.

Last year Hormel announced a dividend hike of 5.4 percent to $0.245 quarterly per share. Hormel is a Dividend Aristocrat with more than 25 consecutive years of dividend increases. Another Dividend Aristocrat that has just announced a new dividend increase is real estate investment trust Realty Income.

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. Hormel Foods is a Dividend Aristocrat and has raised its dividend for more than 25 years. The company has been paying a dividend to shareholders every year since 1928.