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    • Fiscal year 2014 earnings commentary from Jeff Ettinger, CEO

      I am proud to announce our strong finish to the year, delivering record fourth quarter and full year results! We closed the year with earnings per share of $2.23, a penny above the midpoint of our full year earnings guidance. Additionally, we hit the $9 billion mark in annual sales for the first time in our company’s history, fueled by our branded, value-added product portfolios.

      Refrigerated Foods, Jennie-O Turkey Store and our International & Other segments had strong showings for the year, delivering double-digit segment operating profits. Grocery Products was challenged by record high input costs and recent pricing adjustments in the back half of the year. We are seeing positive impact from our CytoSport acquisition after completing the integration of these brands, including Muscle Milk® products, into our Specialty Foods segment.

       The company today announced plans to close the Stockton (Calif.) Plant on Feb. 20, 2015. The decision to move the production to our Atlanta Plant (Tucker, Ga.) and Beloit (Wis.) Plant facilities is based on the scale, production capacity and efficiency available at these locations. The company plans to offer severance packages to approximately 110 affected employees, and they have the opportunity to apply for open positions at other Hormel Foods facilities. The decision to cease operations at the Stockton Plant was very difficult because of its impact on our valued team members.

      Heading into 2015, we expect to exceed our 5 percent sales growth and 10 percent earnings growth goals by continuing to provide consumers with innovative, value-added solutions. We are setting our 2015 earnings per share guidance range at $2.45 -$2.55 per share.
      We all have reason to be proud of these results and I sincerely thank you for your commitment.
      Jeff Ettinger, CEO
      Click HERE for the full earnings release announcement.

      Hormel Foods announces 49th consecutive increase to annual dividend
      The Board of Directors of Hormel Foods today announced a 25 percent increase to the annual dividend to shareholders, marking the 49th consecutive annual dividend increase.

      The annual dividend on the common stock of the corporation was raised to $1.00 per share from $.80 per share.

      The Board of Directors authorized the first quarterly dividend of twenty-five cents (25¢) a share to be paid on Feb. 17, 2015, to stockholders of record at the close of business on Jan. 20, 2015.

      The Feb. 17 payment will be the 346th consecutive quarterly dividend paid by the company. Since becoming a public company in 1928, Hormel Foods has paid a regular quarterly dividend without interruption.

      The Hormel Foods Corporation Charitable Trust Education Matching Gifts Program

      Download the new matching gifts form and conditions by clicking here. Read the back of the form carefully for the eligibility requirements for institutions and donations. Questions can be directed to Becci Smith in corporate communications at rjsmith@hormel.com or 507-437-5345.

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    • HRL Hormel Foods Corp

      Stock Price as of 2014-11-26 16:06 EST
      52.72 +1.40   +2.73%
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