The Board of Directors of Hormel Foods Corporation announced a 6% increase to the annual dividend to shareholders, marking the 57th consecutive annual dividend increase. The annual dividend on the common stock of the corporation was raised to $1.10 per share from $1.04 per share. The Board of Directors authorized the first quarterly dividend of 27.50 cents ($0.2750) a share to be paid on Feb.

15, 2023, to stockholders of record at the close of business on Jan. 17, 2023.