Hormel Foods (HRL +1.16%) announced plans to keep its quarterly dividend steady at $0.17 per share of common stock. The consumer-branded food company has paid this amount to investors since February 2013, after boosting its payout 13% from $0.15 per share. Hormel's latest dividend will be payable on Nov. 15 to shareholders of record as of Sept. 23.
Annualized, Hormel's dividend payout comes out to $0.68 per share. As of the market's close on Sept. 23, the company's stock was trading at $43.46. This means the company currently has a 1.6% dividend yield.
