Hormel Foods to Split 2-for-1

Hormel Foods (HRL) to split 2-for-1:

Hormel Foods Corporation (HRL) today announced its Board of Directors has authorized a two-for-one split of the company’s common stock. This would be the 10th stock split in the company’s history.

“For the second time in the last five years, we are excited to announce a proposed two-for-one stock split,” said Jeffrey M. Ettinger, chairman of the board and chief executive officer at Hormel Foods. “This decision acknowledges our track record of providing our shareholders solid long-term returns and demonstrates our confidence that we will continue to grow our sales and earnings in the future. In addition, we anticipate this will also put our stock price in a more attractive trading range for a number of individual investors.”

Once it’s approved, the shares will split early next year.

Posted by on November 25th, 2015 at 9:37 am

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