Hormel Foods Corporation’s (HRL) Dividend Growth Strategy and its Role as a Cheap Dividend Stock

Hormel Foods Corporation (NYSE:HRL) is included among the 13 Incredibly Cheap Dividend Stocks to Invest in.

Hormel Foods Corporation’s (HRL) Dividend Growth Strategy and its Role as a Cheap Dividend Stock

Hormel Foods Corporation (NYSE:HRL) is an American multinational food processing company. It operates through three main segments. Its retail arm includes well-known brands such as Planters, SPAM, Skippy, Herdez, Jennie-O, and Hormel. The foodservice division supplies products like pizza toppings and bacon to restaurants and other food outlets. The international business covers both global sales of its products and investments abroad.

Over time, Hormel Foods Corporation (NYSE:HRL) has been evolving from a primarily meat-focused company into a broader global branded food business, now generating more than $12 billion in annual revenue from over 40 worldwide brands.

Hormel Foods Corporation (NYSE:HRL) is also a solid dividend stock. The company is a Dividend King, having raised its payouts for 59 years in a row. Currently, it offers a quarterly dividend of $0.29 per share and has a dividend yield of 4.67%, as of September 19.

While we acknowledge the potential of HRL as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than HRL and that has a 100x upside potential, check out our report about the cheapest AI stock.

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