What Makes The Hershey Company (HSY) a Stable Food Dividend Stock?

The Hershey Company (NYSE:HSY) is included among the 10 Best Food Stocks with Dividends.

A close-up of hands deftly moulding a bar of chocolate.

The Hershey Company (NYSE:HSY) is a well-known consumer staples company primarily recognized for its confections and snacks. While the company has broadened its product range to include items like popcorn and pretzels, chocolate remains one of its core offerings. Seen as an affordable indulgence, Hershey’s chocolate continues to be highly popular, driving steadily increasing sales over time.

The Hershey Company (NYSE:HSY) recently revealed it will increase prices for the second time in just over a year, attributing the hike to ongoing high cocoa costs that will lead to a double-digit rise in candy prices. While cocoa prices have dropped from their record high of $12,000 per metric ton, they still trade above $8,000 per metric ton. Many analysts expect these elevated prices to persist in the near term, largely due to last year’s adverse weather conditions in Western Africa.

The Hershey Company (NYSE:HSY) is also a strong dividend payer, having raised its payouts for 15 consecutive years. The company offers a quarterly dividend of $1.37 per share and has a dividend yield of 2.93%, as of July 27.

READ NEXT: READ NEXT: Top 10 Safest Dividend Stocks in the UK and 11 Dogs of the Dow Dividend Stocks to Buy Now

Disclosure: None.