The Board of Directors of Hormel Foods Corporation announced an 11% increase to the annual dividend to shareholders, marking the 54th consecutive annual dividend increase. The annual dividend on the common stock of the corporation was raised to $0.93 per share from $0.84 per share. The Board of Directors authorized the first quarterly dividend of 23.25 cents ($0.2325) a share to be paid on Feb. 18, 2020, to stockholders of record at the close of business on Jan. 13, 2020.