Dividend Aristocrat Hormel Foods (HRL) will raise its quarterly dividend from $0.145 to to $0.17 per share, adjusted for the November 2015 stock split.

The increased dividend will be paid on Feb. 15, 2017, to stockholders of record at the close of business on Jan. 17, 2017. It's the 51st consecutive year of dividend increases by Hormel Foods.

The Feb. 15 payment will be the 354th consecutive quarterly dividend paid by the company. Since becoming a public company in 1928, Hormel Foods Corporation has paid a regular quarterly dividend without interruption.

The new dividend yield for food and meat products company Hormel is 1.9% based on today's $35.02 closing price.

Hormel Foods Corporation manufactures brand-name food and meat products worldwide. The company makes refrigerated pork, beef, chicken and turkey products and nutrition products including protein products. Its brands include Skippy, SPAM, Hormel Natural Choice, Applegate, Justin's, Wholly Guacamole and Hormel Black Label.