Hormel Foods raises dividend for 51st consecutive year

Hormel Foods (HRL) will raise its dividend by 17.2%.

Applegate is a Hormel Foods brand

The quarterly dividend will be hiked from $0.145 to to $0.17 per share, adjusted for the November 2015 stock split.

The increased dividend will be paid on Feb. 15, 2017, to stockholders of record at the close of business on Jan. 17, 2017. It's the 51st consecutive year of dividend increases by Dividend Aristocrat Hormel Foods.

The Feb. 15 payment will be the 354th 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.

The new dividend yield for food and meat products company Hormel is 1.9% based on today's $35.02 closing price.