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$45.01 $2.57 (6.1%) 3:52 PM EST on 11/26/13
Consumer goods company, Hormel Foods Corporation ( HRL ), posted earnings per share of 58 cents in the fourth quarter of fiscal 2013 (ended Oct 27, 2013), up 18.4% from the year-ago quarter. Earnings also beat the Zacks Consensus Estimate of 54 cents by 7.4%. The rise in earnings was led by improved revenues and margins.
In fiscal 2013, Hormel generated earnings per share of $1.95, a hike of 4.8% from $1.86 a year ago. Results beat the Zacks Consensus Estimate of $1.92 per share by 1.6%.
The company paid a quarterly dividend of 17 cents on Nov 15, 2013, representing the 341 st straight dividend payout by the company.
Additionally, management announced an 18.0% increase in annual dividend to 80 cents in fiscal 2014, marking an increase for the 48 th consecutive year.
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